IFAs claim ombudsman biased towards complainants
In a recent IFA survey, 83% thought the financial ombudsman treated them as “guilty until proven innocent”
Complaints
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Intrinsic to compensate client for pension transfer charges
Intrinsic Financial Planning has been ordered by the UK’s Financial Ombudsman Service (FOS) to compensate a client who says he was not aware of the charges that were applied to his pension on transfer.
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Phoenix top as FCA complaints hit 3.8 million
Consolidator The Phoenix Group featured heavily in data from the UK Financial Conduct Authority that shows complaints about all financial services firms rose by 13% in the second half of 2017, driven by payment protection insurance (PPI) claims.
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Downward trend in Ombudsman complaints
Complaints about advice companies made to the UK’s Financial Ombudsman Service (FOS) eased across the board in the second half of 2017, while Aviva and Barclays bucked the trend and saw complaints rise, according to updated figures.
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Sipps among most upheld complaints, reveals Ombudsman
More than half of the complaints around self-invested personal pension schemes (Sipps) passed to a financial ombudsman were upheld during the three months to 31 December 2017, making it one of most upheld areas of complaint.
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DB pension transfer complaint redress guidelines updated
The way in which firms calculate redress for complaints about defined benefit (DB) pension transfer advice was updated by the Financial Conduct Authority on Friday.
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Half of Sipp complaints upheld
The UK Financial Ombudsman Service (FOS) has upheld half of the complaints it received about self-invested personal pension schemes (Sipps) so far in 2017/18.
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SJP top adviser in FCA complaints data
St James’ Place is the most complained about adviser for the first half of 2017 according to the Financial Conduct Authority.
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UK ombudsman backs complaint after pension fund falls 50%
Britain’s Financial Ombudsman Service (FOS) has found in favour of a former client of PFP Wealth Management after funds it chose for his pension slumped nearly 50% in the first year.
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Complaints against SJP up but Sesame worst advice offender
The UK’s Financial Ombudsman Service (FOS) received 22% more new complaints against St James’s Place in 1H17 compared with 2H16 and, despite a drop in the number of complaints against Sesame, the network remained the most complained about advice provider.
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Sipps among most complained about UK financial products
The UK’s Financial Ombudsman Service (FOS) received 59% more complaints about self-invested personal pensions (Sipps) in the first quarter of the 2017/2018 financial year compared to the same period a year before.
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Standard Life wins case over pension transfer values
The UK’s Pensions Ombudsman has ruled in favour of trustees of the Standard Life Staff Pension Scheme, after a staff member claimed he had lost out on a proposed transfer.