PFS: adviser fees should reflect higher professionalism

The PFS said that the Financial Ombudsman Service's (FOS) complaints figures, which were published in the FOS' annual review on 29 May, showed that expertise and trust in professional advisers was rising. It pointed out that the focus placed on improving standards in the profession was successful as only half of the small amount of complaints against advisers - 1% of all FOS grievances - was upheld by the ombudsman and the number had shrunk by 12% over the past year. The professional body said the evidence had to be taken into account when planning future regulatory strategy and appor...