IFAs face 'sleepless nights' ahead of claims avalanche

According to Bradbury, managing director at London-based Bradbury Hamilton, the Financial Ombudsman Service (FOS) is bracing itself for a spike in consumer complaints as investors pay closer scrutiny to their money amid the market turbulence. He says investors will seek to recoup losses wherever they can, pointing out their first port of call is often their financial adviser. “For the first time advisers will be called upon to defend their investment choice on the basis of it matching the client’s risk profile,” he says. “For those firms with adequate resources and qualifications this...