The number of cases rejected by the ombudsman soared in the past year, prompting questions about how advisers manage complaints in-house. Carmen Reichman finds out if the relationship between adviser and client crumbles when it comes to complaint handling.
The annual review published by the Financial Ombudsman Service (FOS) last week revealed that the number of cases rejected by the FOS had soared over the past year, raising the question why some of the cases were not resolved by advisers in-house prior to reaching the ombudsman stage. Of the 4,139 complaints made against advisers last year, 42% were upheld, 12% fewer than in the year before. At the same time complaints against advisers rose by 45%. The growing gap suggests that advisers found it difficult to arbitrate disputes resulting from an ever-growing consumer voice. Disconnec...
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