Occasionally we don't get things right and our service falls short of the high standards our customers are entitled to, which results in them making a complaint.
There is a strong focus within M&G Wealth to deal with customer complaints effectively and efficiently and we've got a commitment to ensure that we investigate all complaints that are made. The complaint handling process is very important to us as it provides the opportunity to sort something out that has gone wrong and also gives us a valuable source of customer feedback.
The table below shows how many complaints we received and closed from 1 January to 30 June 2022.
Firm Name: Investment Funds Direct Limited.
Period covered in this report: 1 January to 30 June 2022.
Brands / Trading Names covered: Investment Funds Direct Limited, Ascentric (now M&G Wealth Platform), Royal London Retirement Account.
|Number of complaints opened by volume of business|
|Product / service grouping||Provision*||Intermediation||Number of complaints opened||Number of complaints closed||Percentage closed within 3 days||Percentage closed after 3 days but within 8 weeks||Percentage upheld||Main cause of complaints upheld|
|Decumulation and pensions||3.63||N/A||287||286||28%||67%||79%||General admin/customer service|
|Investments||2.26||N/A||307||315||24%||70%||80%||General admin/customer service|
* The number of new complaints per 1,000 policies in force at the end of H1 2022 reporting period.