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Complaints

Independent Professional Services (IPS) is actively committed to an effective and efficient complaints handling process. This includes ensuring that: 

  • all relevant employees are aware of and educated about the complaints procedure; 
  • adequate resources are allocated to the complaints process; and 
  • management systems and reporting processes are in place to ensure timely and effective complaints handling and monitoring. 

IPS believes that the manner in which complaints are handled is important in order to protect the reputation of the company and employees and to improve client confidence particularly after a complaint has been lodged. Furthermore, IPS recognises that complaints can be sources of information that can help IPS improve the manner in which it deals with its clients. 

Scope 

IPS provides investment fund administration services to clients. IPS’ complaints handling process relates to complaints made by its clients in relation to: 

  • IPS’ performance in the provision of investment fund administration services; and 
  • IPS’ performance in the provision of accounting and system services as contracted. 

Timeframes 

Complaints are to be dealt with quickly and complainants are to be treated courteously. Responsiveness is a key element of an efficient and effective complaints handling process. 

IPS has set target timeframes for the internal resolution of complaints that provide for a resolution within agreed timeframes. An initial response, acknowledging the receipt of a complaint, and outlining the complaints process, will be sent within 5 business days of the complaint being received.  The written response will include the timeframes for resolving the complaint. 

A final response, outlining the outcome of the complaint will be sent within 45 days. 

These timeframes are to be maintained on an ongoing basis and where exceptions occur these are to be reported as an Incident via the Online Incident Reporting System. Where a complaint cannot be resolved within the timeframe, the complainant will be informed.   

Collection of Information and Confidentiality  

IPS has established a system for recording and managing complaints as they are received.   

This is a secure system accessible only to authorised employees.  Procedures have been put in place to ensure the consistent and secure process for identifying, gathering, maintaining, storing and disposing of information related to complaints. The system will also track enquiries.   

IPS is committed to the privacy and confidentiality of its clients and will ensure information related to complaints is secure and not disclosed except in the course of addressing the complaint.   

Analysis and Evaluation of Complaints  

Complaints will be classified and analysed for the identification and rectification of systemic and recurring problems. The process will be reviewed regularly to ensure efficiency and effective outcomes. 

Policy Review  

The complaints process, including the procedures and policies, will be reviewed on an annual basis to identify areas for further improvement. 

November 2021