IFAs at risk of hefty costs without robust complaints system
Financial advisers could be faced with large costs if they fail to adopt a holistic system for handling complaints before next year’s reform, industry players have warned.
Financial advisers could be faced with large costs if they fail to adopt a holistic system for handling complaints before next year’s reform, industry players have warned.
Advisory network giant Sesame has topped the list again for being the most complained about advice firm in the UK, data from the Financial Ombudsman Service reveals.
A software provider has unveiled a new version of its complaints management programme to help UK advisory firms stay compliant to continually changing regulations.
UK customers invested in unregulated collective investment schemes (UCIS) are increasingly questioning the advice they were given after being alerted by a new rule change, the Financial Ombudsman Service (FOS) has warned.
The number of complaints made against the conduct of intermediaries who are licensed by Hong Kong’s Securities and Futures Commission (SFC) has more than doubled in a year, the latest figures reveal.
A user group of representatives from the UK financial services industry has expressed concerns over the additional workload and costs likely to be created by the Financial Conduct Authority’s proposed reforms to the way complaints are handled.