The Company is committed to delivering the 5 Fair Dealing Outcomes (FDO), being
Outcome 1: Instilling fair dealing as a central concept to the corporate culture
Outcome 2: Providing products and services that are suitable for their target customer segments
Outcome 3: Having competent representatives who provide customers with quality advice and appropriate recommendations.
Outcome 4: Ensuring customers receive clear, relevant and timely information to make informed financial decisions
Outcome 5: Handling customer complaints in an independent, effective and prompt manner.
FDO 1: Fair Dealing is central to corporate culture
The Board and Senior Management provides leadership and set the culture of developing an organizational culture of fair dealing by:
(a) Devising a clear strategy to achieve the fair dealing outcomes;
(b) Aligning the Company’s policies and practices to the fair dealing outcomes;
(c) Communicating to internal and external stakeholders that fair dealing is a priority for the Company; and
(d) Monitoring the effectiveness of the strategy and policies to achieve the fair dealing outcomes.
Additionally, the remuneration structure of the Company is designed in a way that encourages fair dealing outcomes where inappropriate practices such as product pushing or improper switching of investment products will not be incentivised.
FDO 2: Products and services are suitable for its target customer segments
The Company understands that making financial decisions can be a complex process which potentially have a significant impact on the livelihood of customers.
Customers are often faced with a wide variety of investment products or presented with a large volume of information leading to information overload thus impairing their ability to make informed choices. On the other hand, customers with limited knowledge of investment products often focus too much on the short-term or headline returns, while not fully understanding the risk-reward characteristics of the product. Here you can read our new article about insurance.
The Company therefore undertakes formal due diligence on any investment product it intends to distribute, striving to:
(a) Assess and fully understand the features and risk-reward characteristics of the product; and
(b) Identify customer segments for which the product is suitable; and customer segments for which the product is clearly not suitable.
FDO 3: Competent representatives provide customers with quality advice and appropriate recommendations
The Company ensures that all representatives have the knowledge and skills before they are allowed to advise on and sell the product to customers.
Representatives are required to undergo
(a) a structure training programme covering the advisory and sales process, regulatory requirements, market developments and other relevant topics; and
(b) be fully trained on the features and risk-reward characteristics of any investment product distributed by the Company, and on the profile of the target customer segments of the product,
in addition to meeting the minimum entry and examination requirements under the Financial Adviser Act.
The Company has a zero tolerance policy for failures by representatives to follow its prescribed advisory and sales process.
FDO 4: Customers receive clear, relevant and timely information to make informed decisions
The Company endeavours to provide customers with clear and relevant information to enable them to make informed financial decisions. Such information are given before, during and after the advisory and sales process and in plain language to facilitate easy understanding of the information.
The provision of clear and relevant information includes after-sales updates on product performance and any material developments relating to the investments so that customers can take steps to protect their interests.
FDO 5: Handling customer complaints in an independent, effective and prompt manner
The Company has established a robust process to resolve customer grievances independently, effectively and promptly.
Should customers suffer any grievances in any stage of their transaction process, they can lodge a complaint by,
1. Physical walk in or
2. By using the form provided below.
Customers may be required to provide more documentations and information to facilitate the investigation of their cases and they will be informed of investigation results promptly.