Complaints against investment intermediaries jump 50%

Consumer grievances rose by 6,747 in the period for the FSA grouping, which includes arranging only intermediaries (excluding stockbrokers) and financial advisers as well as IFAs. Complaints were also slightly up on the half year, having increased by 343 since H1 2010. Within the personal investment group, 36% of complaints were upheld in H2 2010, compared to 35% in the previous six months. In total, firms in this group paid out £21,226,118 in redress in the second half of 2010, up from £14,966,977 a year earlier, a rise of 42%. Bank and building society complaints upheld in fav...