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Complaints
 

 

We appreciate the value of a customer and the value of a satisfied customer. We attempt to conduct ourselves accordingly. We often get new customers because they are unsatisfied at their previous place, and from time to time a customer may wish to move their account elsewhere for a number of reasons. One reason we don’t want people to change is due to a complaint of an aspect that is or was within our control. When a complaint or concern arises please communicate it to us.  

 

Steps to take when you have a complaint

Client Complaint Information – Mutual Funds Only

Clients of a mutual fund dealer who are not satisfied with a financial product or service have a right to make a complaint and to seek resolution of the problem. If you have a complaint, these are some of the steps you can take.

• Your complaint should first be explained to your financial advisor. The person who sold you the product or service will solve most problems quickly.

• Contact your mutual fund dealer. Member firms are responsible to you, the investor, for monitoring the actions of their representatives to ensure that they are in compliance with the legislation, rules and guidelines governing their activities.

Some problems are easily solved by a phone call. Some matters can be resolved through the Branch Manager. The dealer's Compliance Department will investigate any complaint that you initiate in writing and respond back to you with the results of their investigation.

• Contact the Mutual Fund Dealers Association of Canada (MFDA), which is the self regulatory organization in Canada to which your mutual fund dealer belongs. The MFDA investigates complaints about mutual fund dealers and their representatives, and takes enforcement action where appropriate. There is no cost to clients for referring a complaint to the MFDA. The MFDA can be contacted:
• By telephone in Toronto at (416) 361-6332, or toll free at 1-888-466-6332,
• By e-mail at complaints @ mfda.ca, or
• In writing, using the complaint form which is available on the MFDA website at www.mfda.ca

• Contact the Ombudsman for Banking Services and Investments (OBSI), an organization independent of the MFDA, government, and the financial services industry. OBSI provides an independent and impartial process for the investigation and resolution of complaints about the provision of financial services to clients. OBSI will investigate your complaint only if you have first exhausted your firm's internal complaint-handling processes. OBSI can make a non-binding recommendation that your firm compensate you
(up to $350,000) if it determines that you have been treated unfairly, taking into account the criteria of good financial services and business practice, relevant codes of practice or conduct, industry regulation and the law. The OBSI process is free of charge and is confidential. OBSI can be contacted:
• by telephone in Toronto at (416) 287-2877, or toll free at 1-888-451-4519; or
• by e-mail at ombudsman @obsi.ca.

• Retaining a lawyer to assist with the complaint.

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Provide to us in writing the nature of your complaint

 

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If by letter or email address it to:

for mutual funds:for all other:
Mr. John L. Housser, Representative Mr. John L. Housser, President
Investia Financial Services Inc. Parkwood Financial Services Inc.
P.O. Box 23040 Kitchener RPO P.O. Box 23040 Kitchener RPO
Kitchener, Ontario Kitchener, Ontario
N2B 3V1 N2B 3V1

e-mail jlhousser at parkwoodfs.com

 

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If your concern is not resolved your next steps (in order of escalation) are the following:

 

MUTUAL FUND DEALER

1)

Investia Financial Services Inc.

300-6700, Pierre-Bertrand Blvd.,

Quebec City, Quebec. G2J 0B4

2)

Mutual Fund Dealers Association of Canada

121 King Street W., #1600,

Toronto, Ontario. M5H 3T9

3)

Ombudsman for Banking Services and Investments

Toronto, Ontario

 

INSURANCE, GIC's, AND ALL OTHER NON- MUTUAL FUND PRODUCTS.

1)

National Financial Insurance Agency Inc.

400 Applewood Crescent, 3rd Floor

Vaughan, Ontario. L4K 0C3

2)

Independent Financial Brokers of Canada

740-30 Eglington Ave W.

Mississauga, Ontario. L5R 3E7

3)

Financial Services Commission of Ontario

Toronto, Ontario

 
 

John L. Housser

John L. Housser

519-745-8771   |   1-800-866-8727
jlhousser@parkwoodfs.com

Copyright © 2003 Parkwood Financial Services Inc.
Last modified: Oct 17, 2012