Clients of Mutual Fund Dealers have the right to ask questions and/or make a complaint and seek resolution to any problem(s) they may encounter. As our clients are “introduced” to us by their Mutual Fund Dealer, the following are the steps that should be followed to make the process easier for all parties involved in this action.
You might first consider discussing your point with your Financial Advisor (FA). This is likely the person who sold you the product or service, and is often the individual who can most often resolve issues most quickly. This may also save you time should you be unsure of where to direct your question(s).
Some matters may easily be resolved with a phone call. You may consider contacting the Mutual Fund Dealer, which is responsible to you as the investor, and is responsible for supervising the actions and activities of its representatives. You may do this by contacting the Branch Manager or the Dealer’s Compliance Department.
If your FA or Mutual Fund Dealer is not able to assist with your question/complaint, and the matter is strictly related to any service(s) provided by M.R.S. Inc.*, as a carrying dealer, you may contact our Client Services Department in Toronto at 416-964-0028, or 1-888-387-2087, Monday through Friday between 8am to 7pm Eastern time. You may also write to us at suite 2100, 777 Bay Street, Toronto, Ontario, M5G 2N4 or email us at accounthelp@mrs.com or fax us at 416-413-1723.
Should you be unable to resolve your concerns with the MRS Client Services Department, you may escalate your concerns further by writing to our Compliance department at the above address. You may also fax it to us at 416-979-2804, or email us at mrscompliance@mrs.com. Please do not omit any of the previous steps as these issues might have been resolved by you initially with your Mutual Fund Dealer. If you skip these steps, MRS will still need to go back to your Mutual Fund Dealer to attempt to resolve them.
You may consider contacting the Mutual Fund Dealers Association of Canada (MFDA), which is the self-regulatory association in Canada both M.R.S. Inc. and your Mutual Fund Dealer belong. You can do so by telephone in Toronto at 416-361-6332 or toll free at 1-888-466-6332, by email contact, complaints@mfda.ca or in writing using the complaint form available on the MFDA website at www.mfda.ca.
You may also contact the Ombudsman for Banking Services and Investments (OBSI) after you have first exhausted M.R.S. Inc.’s and your Mutual Fund Dealer’s internal complaint-handling processes. You may contact OBSI by telephone in Toronto at 416-287-2877, or Toll free at 1-888-451-4519, or by email at ombudsman@obsi.ca.
* M.R.S. Inc. is a carrying dealer: we do not make recommendations or provide financial advice to investors. We service accounts on behalf of other Mutual fund dealers and act as an intermediary between the dealer and the mutual fund companies. Reviews of trades for suitability is the responsibility of the introducing dealer and the mutual fund advisor.
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