The Financial Ombudsman Service (FOS) has rejected only one claim at decision stage against advice to invest in Arch Cru, since it has started publishing complaints decisions in April.
The ombudsman upheld 17 claims, which involved 11 advisory firms. Most complaints were made against independent firm Accalon Associates, which saw three claims upheld by the FOS. AC Financial, Willow Financial Management, Berkley Associates & Company (now Sutton and Shepherd) and Tenet Connect also had two upheld complaints each. The claim rejected was against Charles Stanley Financial Solutions (previously Griffiths & Armour Financial Services). The FOS found that the IFA "did not have a duty to have provided advice" in relation to the continued suitability of a client's invest...
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