IFA complaints drop as bank gripes double to 2.2 million

According to the regulator's latest data, complaints against personal investment firms, most of which are IFAs and advisers, reached 13,994 in the six months to 31 December 2009, more than 3,000 fewer than the 17,186 recorded in H1. The figure has progressively decreased from H1 2006, when the regulator began collecting the data and when complaints against personal investment firms hit 46,529. A reduction in the number of mortgage endowment-related complaints is behind the decrease, the FSA says, as reflected in the life insurer sector, where complaints have fallen from 203,000 in H1 ...