The FOS is not perfect, but the alternatives are definitely worse

‘Peace of mind comes with a safety net, no matter how imperfect’

clock • 4 min read

Advisers don’t much like the Financial Ombudsman Service (FOS) and you can see why, Justin Cash writes…

If you as an adviser have done wrong by a client, the FOS is going to ask you to pay up.  It's an imperfect system. Recent stories like an adviser who lodged a complaint against advice they gave themself show that. The same week, one adviser called for FOS to be abolished entirely. That sounds like a simple solution but it is not the right one, for a whole host of reasons. One piece of a puzzle To start with, it's helpful to lay out exactly what FOS is, and what it is not. It does not make the rules. That is the Financial Conduct Authority's (FCA) job; to set out acceptable c...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Artificial intelligence in financial services: Where does the regulator stand?

Artificial intelligence in financial services: Where does the regulator stand?

Must be adopted in a safe, responsible, and compliant way.

Sandy McGregor
clock 05 December 2025 • 4 min read
Targeted support: Is it what consumers want?

Targeted support: Is it what consumers want?

Behavioural, financial and demographic differences must be factored in

Louis Wiliams
clock 04 December 2025 • 4 min read
FCA executive Sheldon Mills to depart

FCA executive Sheldon Mills to depart

Competition director to exit after eight years

Sahar Nazir
clock 24 November 2025 • 1 min read