IFA Complaints Just 1.5 Per Cent of All Complaints
Published / Last Updated on 18/05/2011
IFA Complaints Just 1.5 Per Cent of All Complaints.
Only 1.5 per cent of all complaints to the Financial Ombudsman Service (FOS) were against IFAs in the last twelve months. This was a drop of 0.5 per cent from the previous year.
In contrast the amount of bank complaints rose from 61 per cent to 65.5 per cent, which was highlighted in the yearly review by FOS.
The amount of endorsed complaints for IFAs was 53 per cent, as oposed to 52 per cent of bank complaints and 80 per cent of complaints against intermediaries selling payment protection insurance.
The complaints made against IFAs amounted to 25 per cent related to pensions, 14 per cent investments and 8 per cent mortgages.