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.
Ombudsman
-
-
Sesame tops FOS list for most complained about adviser
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.
-
Case against delayed Guernsey QROPS transfer thrown out
A case against pension administrator Capita which claimed there were “unreasonable delays” to an overseas pension transfer has been rejected by the Pensions Ombudsman Service (POS).
-
Law firm calls for urgent review of SIPP provider liability
SIPP providers should be held fully accountable where an investor has not taken financial advice, a law firm has said in a letter to the chief of the Financial Conduct Authority (FCA).
-
FOS warns of jump in inquiries over UCIS advice
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.
-
Openwork scraps APFA membership
Advisory networking giant, Openwork, has decided to ditch its membership with the Association of Professional Financial Advisers (APFA).
-
UK Ombudsman reports rise in SIPP complaints
The UK’s Financial Ombudsman Service (FOS) has reported only a slight rise in complaints about investment-linked products in the latest financial year, but said there had been a significant increase in problems reported by people with self-invested personal pensions (SIPPs).
-
Clients look for compensation after wealth manager goes bust
A Scottish-based wealth management firm has gone bust after it was unable to pay back clients who were mis-sold high risk investments, and customers are now turning to the Financial Services Compensation Scheme to get their money back.
-
Clients look for compensation after mis-selling wealth manager goes bust
A Scottish-based wealth management firm has gone bust after it was unable to pay back clients who were mis-sold high risk investments, and customers are now turning to the Financial Services Compensation Scheme to get their money back.
-
FCA warns of fraudulent BlackRock ‘clone firm’
A fraudulent “clone firm” has been trying to con BlackRock customers out of their money, the Financial Conduct Authority has warned.
-
FOS upholds four new Harlequin complaints
The Financial Ombudsman Service (FOS) has upheld complaints from four individuals who claimed they had been given “unsuitable advice” to transfer their pension savings into troubled overseas investment scheme, Harlequin.
-
FOS freezes adviser levy and cuts budget
The Financial Ombudsman Service has frozen its compulsory levy which is partially funded by advisers and will cut its budget by 11% over the next tax year.