The UK’s Financial Services Ombudsman (FOS) has found in favour of Rathbones in a case where a client alleged the provider mismanaged his Self-Invested Person Pension (Sipp) portfolio, leading to its underperformance and a financial loss.
The Financial Ombudsman Service has ordered Nutmeg to pay a former client for “numerous mistakes” surrounding direct debits on his pension plan that were likely to cause irritation.
The Australian Financial Complaints Authority (Afca) will provide “free, fast and binding dispute resolution to consumers and small businesses” from 1 November 2018.
Following accusations of poor training by an investigative television programme, the UK’s Treasury Select Committee has set out “important points of principle” it expects to be reflected in the review of the Financial Ombudsman Service (FOS).
The UK Pensions Ombudsman has upheld a complaint against Fidelity International for “significant distress and inconvenience” suffered by a client who was misinformed about holding investment trusts in her Sipp.
The Pensions Ombudsman has ordered AJ Bell to compensate a client for lost interest and pay him £500 ($709, €570) for “significant non-financial injustice” after the investment platform failed to notify him the interest rate of his account would drop to 0%.
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.
In a cautionary tale for investors passing down family names, the UK Financial Ombudsman Service has rejected a complaint from a man whose identically named son was able to fraudulently withdraw money from his M&G Securities account.
A former Aviva Life Service UK client has lost his bid to be compensated for poor service, following delays in taking out a tax free lump sum from his pension, because he waited too long to make the complaint.
The UK Financial Ombudsman Service has upheld a complaint against an Intrinsic financial adviser, who helped a client switch his personal pension to a self-invested personal pension (Sipp) to invest in Harlequin, a now-defunct unregulated investment scheme.
The Pensions Advisory Service’s dispute resolution function is moving to the Pension Ombudsman.
The UK’s Pensions Ombudsman is currently investigating a group of more than 150 complaints and expects to receive more about transfer values linked to the beleaguered British Steel Pension Scheme (BSPS).
