Sesame complaints drop 30% as bank grievances rise

Scott Sinclair
clock

Restricted advice network giant Sesame witnessed a near-30% fall in new complaints in the second half of last year, as customer gripes related to banking and credit cards rose.

The Friends Life-owned business reported 1,025 complaints between July 2014 and January 2015 to the Financial Conduct Authority (FCA), against a total of 1,446 in the previous six months. Most complaints against the group continued to relate to decumulation, life and pensions, with 574 incidences in the latest period. Some 135 were investment complaints. The group was again the only advisory company to appear in the data. The last occasion another advice business was present was Openwork in the second half of 2013. Another notable group to appear in the latest figures was Hargreave...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Targeted support: FCA shuns 'overly prescriptive' approach to vulnerability

Targeted support: FCA shuns 'overly prescriptive' approach to vulnerability

Considered prescribing how firms should support ‘vulnerable consumers’

Isabel Baxter
clock 30 June 2025 • 2 min read
Targeted support: 38,000 current advice users expected to switch

Targeted support: 38,000 current advice users expected to switch

Firms could generate up to £499 in revenue per customer

Isabel Baxter
clock 30 June 2025 • 4 min read
Targeted support: An 'expedient way' to meet Consumer Duty cross-cutting obligations

Targeted support: An 'expedient way' to meet Consumer Duty cross-cutting obligations

FCA urges firms to treat all recipients of targeted support as retail customers

Isabel Baxter
clock 30 June 2025 • 2 min read