Recent research from the Financial Markets Authority (FMA) shows that many clients find it hard to raise complaints. Fewer than one in three feel confident about how to make a complaint, almost a third of complaints go unresolved, and many who wanted to complain didn’t because they thought nothing would change. The FMA wants providers to make complaints processes clear, fair, and easy to use.

FMA Executive Director Clare Bolingford puts it plainly:

“Companies are burying complaints processes deep on their websites, requiring details a customer may not have to hand and treating customers in a defensive and dismissive way.”

So, what does this mean for you as a FAP or adviser? Think about complaints as a chance to strengthen client relationships, improve your services, and showcase your professionalism. When handled well, complaints can restore client confidence, highlight recurring issues to address, and show clients that their feedback genuinely matters.

Practical steps FAPs and advisers can take

Here are some straightforward actions to make sure your complaints process is fit for purpose:

• Talk about it internally: Review the FMA complaints guidance and research at your next board or management meeting. Ask: Are we meeting the expectations outlined by the FMA?

• Review your complaints policy: Make sure it is up-to-date, clear, and easy for clients to follow.

• Discuss with your team: Ensure everyone understands what counts as a complaint, how it’s recorded, and how it’s actioned. Consider common client issues and how to resolve them proactively.

• CPD training: Complete the new complaints modules recently uploaded to Radar to refresh knowledge and meet professional development requirements.

• Plan ahead: Include complaints handling as part of each adviser’s 2026 Professional Development Plan.

Where Strategi can help

We make it easier for you to handle complaints effectively. For example:

• Radar CPD modules provide step-by-step guidance on complaints handling.

• Updated complaints policy templates are available for licensed entity clients, reflecting the FMA’s latest guidance.

• Virtual Compliance Officer (VCO) service clients can get a detailed review of their complaints processes to make sure they are clear, fair, and actionable.

Complaints don’t have to be stressful – they can be an opportunity to strengthen your business. Reviewing your policies, having open discussions with your team, and completing CPD modules ensures you’re aligned with the FMA’s expectations and ready to handle complaints confidently.

For more information:

• FMA complaints information sheet.

• FMA complaints research.

Next steps If you want help making your complaints process clear, fair, and purposeful, or guidance applying the FMA’s information sheet to your business, reach out to Strategi Compliance.