FOS disputes against IFAs fall 1%; bank complaints up 2%

IFAs were responsible for just 2% of complaints to the FOS in 2009/10, compared to 61% for banks. FOS says the fall in complaints against IFAs reflects "the levelling-off generally of complaints to the ombudsman service about investments and pensions". Of the complaints received about investment products, 12% were IFA related, though this more than doubled to 28% for complaints against IFAs about pensions. The FOS upheld 39% of complaints against IFAs. Mortgage intermediaries accounted for 18% of the complaints about mortgages. The proportions of cases involving life insuranc...