Client Complaint Process | RBC Global Asset Management

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Filing a complaint with RBC Global Asset Management Inc. (RBC GAM Inc.)

RBC GAM has put in place procedures for the handling and review of complaints and to ensure that such complaints are handled promptly and fairly, taking into account the client’s interests.

For information on the complaint handing process RBC GAM follows for complaints submitted by a client residing in jurisdictions other than Quebec, please refer to the sections under the heading Complaint handling process for clients resident in Canadian jurisdictions other than Quebec.

For information on the complaint handing process RBC GAM follows for complaints submitted by a client residing in Quebec, please refer to the sections under the heading. Complaint handling process for clients resident in Quebec.

Complaint handling process for clients resident in Canadian jurisdictions other than Quebec

A complaint relating to RBC GAM’s services or its representatives may be communicated to RBC GAM verbally or in written form.

When submitting a complaint, a client should explain what went wrong, when it happened and what type of remediation the client expects from RBC GAM. RBC GAM may ask the client to provide clarification or more information to help RBC GAM better understand the complaint. All complaints will be given equal consideration, however, if a client raises an issue verbally, it may not be readily apparent that the client is making a complaint. RBC GAM may ask the client to clarify a verbal complaint and, if applicable, put the complaint in writing. RBC GAM may assist the client with filing its complaint.

Complaints may be submitted in writing to:

RBC Global Asset Management Inc.
Complaints Team
200 Burrard Street, 20th Floor
Vancouver, BC V6C 3N5
Attention: Complaints Officer

Steps in the complaint process

RBC GAM processes complaints in the best interests of the client.

RBC GAM will acknowledge the complaint

RBC GAM will acknowledge the client’s complaint in writing, as soon as possible, but no later than five (5) business days of receipt of the complaint. RBC GAM may ask the client to provide clarification or more information to help resolve the complaint. If RBC GAM asks for more information, the client should reply promptly. The client should also keep copies of all relevant documents, such as correspondence, emails and notes of conversations with RBC GAM.

RBC GAM will create a complaint record

A separate client complaint record will be created upon receipt of each complaint containing a copy of the complaint and all documents sent by the client, the outcome of the complaint investigation (as detailed below) and a copy of RBC GAM's final written decision and explanation of the reasons for the decision, as sent to the client. RBC GAM will register the client complaint in its complaint register. A client may request to have the complaint record examined.

RBC GAM will investigate the complaint and make a decision

Upon receiving a complaint, RBC GAM will investigate the complaint and provide a decision in writing within ninety (90) days of receiving the complaint. RBC GAM’s decision will include a summary of the complaint, the results of its investigation, its decision to make an offer to resolve the complaint or deny it, and an explanation of its decision.

If RBC GAM cannot provide a decision within ninety (90) days of receipt of the complaint, RBC GAM will inform the client of the delay, explain why the decision is delayed and give the client a new date for RBC GAM’s decision.

Independent dispute resolution and mediation service

If RBC GAM does not provide the client with its decision within ninety (90) days of receipt of the complaint or if the client is not satisfied with RBC GAM’s written decision within 180 days of the decision after RBC GAM provides it, a client may be eligible to avail itself of the free independent dispute resolution and mediation service offered by the Ombudsman for Banking Services and Investments (“OBSI”). Further information on this option is provided below.

Filing a complaint with OBSI

A client may escalate their complaint directly to the OBSI, at no cost to the client, where:

RBC GAM has not provided its decision within ninety (90) days after the client made a complaint; or
the client is not satisfied with the decision and escalates to the OBSI within 180 days of receiving RBC GAM’s written decision;
the client is either an individual or an entity that is not a “permitted client” as defined in National Instrument 31-103 – Registration Requirements, Exemptions and Ongoing Registrant Obligations;
the complaint relates to a trading or advising activity of RBC GAM or a representative of RBC GAM and was brought to RBC GAM within six (6) years from the time that the client first knew, or ought to have known, about the event that caused the complaint; and
the client agrees that the amount of compensation the OBSI can recommend will not exceed $350,000. (If a client wants to recover more than $350,000, the client may wish to take its complaint to a dispute resolution service of its choice, at its own expense, or bring an action in court.)

OBSI will investigate a client’s complaint

OBSI works confidentially and in an informal manner. It is not like going to court, and the client does not need a lawyer. During its investigation, OBSI may interview the client and representatives of RBC GAM. RBC GAM is required to cooperate in OBSI’s investigations. Once OBSI has completed its investigation, it will provide its recommendations to the client and to RBC GAM. OBSI’s recommendations are not binding on the client or on RBC GAM. OBSI can be contacted by email at ombudsman@obsi.ca; or by toll-free telephone at 1-888-451-4519. For more information about the OBSI process, visit www.obsi.ca.

Legal Action

A client may choose to bring its complaint directly to RBC GAM, and if eligible to the OBSI or it may choose to bring a legal action in court, or both. A lawyer can advise a client of its options, including of any statutory time limits for commencing a legal action. Delays could limit a client’s options and legal rights later on.

Complaint handling process for clients resident in Quebec

A complaint relating to RBC GAM’s services or its representatives may be communicated to RBC GAM verbally or in written form. In Quebec, a complaint expresses a client’s reproach or dissatisfaction in respect of the services or products RBC GAM offers and the client’s expectation that RBC GAM takes action to address the complaint.

Complaints may be submitted in writing to:

RBC Global Asset Management Inc.
Complaints Team
200 Burrard Street, 20th Floor
Vancouver, BC V6C 3N5
Attention: Complaints Officer

For clients residing in Quebec, a client may choose to file their complaint with the Autorité des marchés financiers (AMF) using the form available on the AMF’s website at https://lautorite.qc.ca/en/general-public.

For further information on how RBC GAM processes complaints or to inquire about the status of your complaint, please contact your RBC GAM or PH&N Institutional relationship manager.

Steps in the complaint process

RBC GAM processes complaints in the best interests of the client.

RBC GAM will acknowledge receipt of the complaint

RBC GAM will acknowledge the client’s complaint in writing no later than five (5) business days of receipt of the complaint. RBC GAM may ask the client to provide clarification or more information to help resolve the complaint. If RBC GAM asks for more information, the client should reply promptly. The client should also keep copies of all relevant documents, such as correspondence, emails and notes of conversations with RBC GAM.

RBC GAM will create a complaint record

For each complaint, RBC GAM will create a client record containing a copy of the complaint and will include information or documents required for processing and analyzing the complaint. The complaint record will be kept current and will include copies of all communications sent to the client regarding its complaint, including the letter of acknowledgement and the written final response.

RBC GAM will analyze the complaint and provide a final response

Upon receipt of a complaint, RBC GAM will analyze the complaint and provide a final response in writing within sixty (60) days of receiving the complaint explaining how the complaint was analyzed and how RBC GAM arrived at its decision.

If the complaint takes longer to process or is more complex than anticipated, RBC GAM may require additional time to analyze the complaint. RBC GAM will notify the client in writing, indicating the circumstances warranting the extension, which cannot exceed an additional thirty (30) days.

Assessment of offer and resolution of the complaint

If RBC GAM makes an offer to resolve the complaint, the client will be provided with a reasonable amount of time to assess and respond to the offer. The amount of time given will provide the client with sufficient opportunity to seek the advice to make an informed decision. A client may decide to accept or refuse the offer or present a counteroffer.

If an agreement is reached with the client to resolve the complaint, RBC GAM will give effect to the offer within thirty (30) days unless a different time period is agreed upon with the client when it is in the client’s interest to do so.

Transfer of complaint to AMF

If the client is not satisfied with the final response RBC GAM has provided or how the complaint was processed, the client may request to have its complaint record examined by the AMF. The client may also make such request directly to the AMF. In either case, RBC GAM will send the client’s complaint record to the AMF no later than fifteen (15) days following a client’s request to do so.

If the AMF considers it appropriate, the AMF may, with the consent of RBC GAM and the client, act as conciliator or mediator or designate a person to act as such. The AMF may be contacted as follows:

Online at: https://lautorite.qc.ca/en/general-public/contact-us

Email: information@lautorite.qc.ca

For more information about the AMF complaint handling process, please visit https://lautorite.qc.ca/en/general-public

Annual report

Once a year, RBC GAM will file a report with the AMF detailing the number and type of complaints received. Such report will be filed regardless of whether any complaints were received.

Legal Action

A client may choose to bring its complaint directly to RBC GAM Inc., and the AMF, or it may choose to bring a legal action in court, or both. A lawyer can advise a client of its options, including of any statutory time limits for commencing a legal action. Delays could limit a client’s options and legal rights later on.