Client concerns and complaints

Richardson Wealth Limited (“RWL”, “we”, “us”) is an independent,  full-service investment dealer and insurance firm that provides traditional and unique investing opportunities. RWL is regulated by the Canadian Investment Regulatory Organization (“CIRO”). CIRO regulations govern how we review and respond to client complaints.  This policy applies to all affiliates of RWL.

We are committed to addressing client concerns in a fair and equitable manner and we use this feedback to better understand issues clients face and how we can improve our products and services.  RWL has adopted policies and procedures which govern how we address client complaints; including, but not limited to, how we determine if a complaint is regulatory or service related, how we conduct our review, the factors that we rely upon when making our decisions, and records of the investigation that we keep. We have prepared this summary of our complaints handling procedures to help you understand the process we follow in addressing your concerns.

If you have any concerns about your account or the services you receive, please refer to the process below.

Step 1

Reach out to your Advisor or your Branch Manager with your questions or concerns, they may be able to address some or all of your issues. However, if you believe your concerns to be in relation to a violation of CIRO regulations, please see the next step.

Step 2

If you are not satisfied with the response you received, or if you believe your issue to be regulatory in nature, send your complaint directly to our firm’s Designated Complaints Officer (“DCO”).

  • By mail to:
    Designated Complaints Officer
    Richardson Wealth Limited
    Compliance Department
    100 Queens Quay East, Suite 2500
    Toronto, Ontario M5E 1Y3
  • By Email to: [email protected]
  • By Phone to: 1.866.263.0818  
    Leave a message and we will respond to you within two (2) business days.

The DCO is responsible for ensuring that your complaint is handled in accordance with CIRO regulations and in a fair and equitable manner.

We will acknowledge receipt in writing to you within five (5) business days of receiving the complaint. This acknowledgement will include the name and contact information of the individual handling your file, a summary of our complaint handling procedures, the timeframe in which you can expect to receive a response and options to escalate your complaint if you are not satisfied with our response. We will also include CIRO’s complaint handling brochure entitled “How to Make a Complaint”.

We will then review your complaint and the circumstances surrounding it. In conducting our review, we review account documentation, we speak with your advisor, and if necessary, we complete a profit and loss analysis and a suitability analysis of your account.  We may also request an interview with you if we need more information. We will send you a substantive response letter to your complaint within 90 days of receipt. If more time is required to review your complaint, we will advise you of the reason for the delay and the expected completion date of our review.

Step 3

OBSI

If you are unsatisfied with our response, you have the right to escalate your complaint to the  Ombudsman for Banking Services and Investments (“OBSI”) within 180 days of the date of our response letter. OBSI is a free and independent dispute resolution service who will review your complaint and provide a response with their findings.

OBSI may be contacted as follows:

Toll-free telephone: 1-888-451-4519
Email: [email protected]
Website: http://www.obsi.ca

AMF

If you reside in Quebec, you may request that your complaint file be transferred to the Autorité des marchés financiers (“AMF”). Transferring your file to the AMF does not interrupt the prescriptive period for civil remedies. Following the transfer of your file, the AMF will proceed with its review and may offer you mediation or conciliation services. This is a voluntary process intended to resolve a dispute; the AMF cannot require a party to go to mediation.

The AMF may be contacted as follows:

Québec City: 418-525-0337
Montréal: 514-395-0337
Toll-free telephone: 1-877-525-0337
Toll-free fax: 1-877-525-0337
Online at https://lautorite.qc.ca/grand-public/nous-joindre/
E-mail: [email protected]

Other options are available to you and are outlined in CIRO’s brochure, How to Make a Complaint.