The number of mortgage endowment complaints against IFAs increased again in 2005/06, according to the Financial Ombudsman Service (Fos).
The Fos’s Annual Review reveals 12,489 mortgage endowment cases relating to advice from IFAs were made in the financial year 2005/06, compared with 9,376 the previous year. Emma Parker, press officer at the Fos, states: “It is not a surprise that mortgage endowment complaints have increased against IFAs. IFA complaints generally come in later than provider complaints, as we saw with precipice bonds and the pensions review.” By contrast, the volume of endowment complaints against the largest firms has fallen slightly for the first time in recent years and the report suggests the variou...
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