Proportion of complaints against IFAs continues to fall

Complaints about IFAs which made it through to the FOS stage fell to 1% in 2011/12, from 1.5% the previous year. The FOS said the drop reflected the steady decline in the number of complaints to the ombudsman service about investments and pensions. The figures were included in the FOS's annual review 2011/12, which was published today. Meanwhile, the overall proportion of disputes relating to banks remained the same as the previous year - at 65.5% of all cases. The FOS said this continued to reflect the volume of complaints about payment protection insurance (PPI) during the yea...