Advice to opt out of state earnings-related pension schemes (SERPs) tops the list of complaints at claims management firm Open Resolution.
The company, which has only been running since October 2012, has received approximately 50 complaints about advice from banks and tied advisers to transfer clients from SERPs to other pension schemes.
The "vast majority" of the 200 or so complaints the firm is dealing with are about bank and tied advisers, and are only rarely about IFAs, said managing director Steve Bloor.
In one recent successful Open Resolution case, Prudential agreed to put a client back in the position they would have been in if they hadn't switched out of their SERP.
Most claims relate to complaints about advice to invest in investments carrying a higher risk than the clients believe they were suited to, said Bloor.
These include several interest rate swap cases, some of which Open Resolution is pursuing through the courts.
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