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
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We represent our clients NOT the product providers
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Always comply with FWM’s corporate processes and procedures
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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
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All advisers MUST complete a product due diligence report prior to selling the product, whether it is an insurance product or a fund
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Always recommend the best product that suits the client’s needs and not a product that pays the highest commission
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Always familiarise yourself with the product by attending training sessions conducted by product providers
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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
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Always upgrade yourself by attending seminars run by the Association or product providers
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Always attempt to upgrade yourself professionally by earning a designation e.g. CLU, ChFC or CFP
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Always ensure that proper documentation is done throughout the sales process
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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
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For unit trust sales, always ensure the investment policy statement is done
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There MUST BE no attempt to replace a cash value life insurance or a medical insurance policy without proper FULL disclosure
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Always use marketing materials provided by product providers
Financial institutions handle customer’s complaints in an independent, effective and prompt manner
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Refer to our Complaints Handling process