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Fair Dealings Policy

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Guidelines on Fair Dealings

Customers have confidence that they deal with financial institutions where fair dealing is central to the corporate culture
  • IMG We represent our clients NOT the product providers
  • IMG Always comply with FWM’s corporate processes and procedures
  • IMG Always obtain as much information from clients prior to any product recommendation

Financial institution offer products and services that are suitable for their target segments
  • IMG All advisers MUST complete a product due diligence report prior to selling the product, whether it is an insurance product or a fund
  • IMG Always recommend the best product that suits the client’s needs and not a product that pays the highest commission
  • IMG Always familiarise yourself with the product by attending training sessions conducted by product providers
  • IMG Representatives are to avoid products that are not licensed by the firm to be sold e.g. land banking

Financial institution has competent representatives who provide customers with quality advice and appropriate recommendation
  • IMG Always upgrade yourself by attending seminars run by the Association or product providers
  • IMG Always attempt to upgrade yourself professionally by earning a designation e.g. CLU, ChFC or CFP
  • IMG Always ensure that proper documentation is done throughout the sales process
  • IMG Avoid using the word “Guaranteed” in investments or insurance unless it is stated in the benefit illustration or prospectus

Customers receive clear, relevant and timely information to make informed financial decisions
  • IMG For unit trust sales, always ensure the investment policy statement is done
  • IMG There MUST BE no attempt to replace a cash value life insurance or a medical insurance policy without proper FULL disclosure
  • IMG Always use marketing materials provided by product providers

Financial institutions handle customer’s complaints in an independent, effective and prompt manner
  • IMG Refer to our Complaints Handling process