Treating Customers Fairly

1. Introduction

W H Ireland is committed to ensuring that its customers are treated fairly and that the fair treatment of customers is, and remains, at the heart of the firm. We believe that customers are the most important aspect to our business and endeavour to provide a service that is consistent to what the customer wants and expects.

Our treating customers fairly policy is firmly embedded within the firm, from senior management to front line staff, and our commitment extends to treating customers fairly throughout the whole ‘product cycle’. Product cycle = product design and governance; identifying target markets; marketing and promotion; sales and advice process; remuneration of sales force and advisers; after-sales information and service; complaints handling.

W H Ireland aims to achieve and monitor the following:

That customers are confident when they are dealing with WH Ireland in the knowledge that the fair treatment of customers is central to our corporate culture.
That products and services marketed and sold by WH Ireland are designed to meet the needs of identified consumer groups and are targeted accordingly.
That Customers are provided with information that is clear, fair and not misleading and will be kept appropriately informed before, during and after the point of sale.
That customers will receive suitable advice from WH Ireland.
That customers will be provided with products that perform as WH Ireland has led them to expect and the associated service will be of an acceptable standard and as WH Ireland has led customers to expect.
That customers will not face unreasonable post-sale barriers to change product, switch provider, submit a claim or make a complaint.
That W H Ireland staff remain at all times trained and competent to do their jobs.
That W H Ireland customer services staff are friendly, helpful and efficient.

2. Supporting Policies

To ensure that the needs of our customers are properly supported W H Ireland has the following policies and procedures in place.

An account opening process which ensures that advisors obtain the necessary information regarding clients to enable them to provide suitable advice.
An inducement policy which ensures that W H Ireland staff do not receive or give inducements if they are likely to conflict with a duty owed to W H Ireland customers.
A Conflicts of Interest policy which sets out the issues surrounding the issue of investment research and ensures that it is clear, fair and not misleading.
Chinese Walls exist within the firm to restrict the flow of information between departments.
A Personal Account dealing policy which ensures that personal trading does not conflict with customers interests.
A Data Protection policy that ensures that the personal and sensitive information held on behalf of our customers is maintained in a secure and confidential environment.
Risk warnings that are clear and easy to understand.

3. Compliance Arrangements

W H Ireland has a dedicated compliance team that carries out tests on a regular basis in order to ensure that the requirements of our customers are being met at all times and that conflicts of interest are appropriately managed.

4. Complaints Procedure

All complaints received are referred immediately to the Compliance Director who is responsible for ensuring the firm’s Complaints Procedures are instigated and followed and for ensuring that the board of directors are provided with Management Information on number and type of complaints received and for conducting root cause analyses to ensure defective systems and controls are suitably improved. Please find below a summary of our complaints procedure:

The compliance department aim to resolve any complaint, to the customer’s satisfaction, within one working day.
W H Ireland aims to compensate customers where justified and to provide detailed information when we do not feel the complaint is justified.
If, however, it is not possible to resolve a complaint within one working day a written acknowledgement and a copy of our complaints procedures will be mailed to the complainant within 5 days.
W H Ireland aim to provide a final response or a holding response within four weeks of receiving a complaint.
If it has not been possible to resolve a complaint then the customer is provided with a copy of the Financial Ombudsman Services’ explanatory leaflet.
If W H Ireland becomes aware of an error made on a customers account then the firm will take prompt action to rectify the matter and not wait for the customer to complain.

To download a PDF of our Complaint Handling Procedures please click here.