With any significant downturn in the markets, client complaints invariably increase.
The difference between successfully navigating a client complaint (and avoiding litigation) often turns on whether an adviser has an effective gameplan for handling complaints and how that gameplan is executed.
An effective gameplan should address the following:
- How the adviser initially responds to the complaint;
- When and how the adviser communicates with the client;
- How the adviser approaches investigating the complaint; and
- How the adviser resolves the complaint.