Personal Touch halves claims buffer in quality advice push

The firm's cash buffer for settling anticipated client complaints in the coming two years reduced by 46% in 2014, down from £677,000 in the beginning of the year. The network said it has de-risked during the past three years to reduce customer complaints and provider clawbacks. It also restructured the way it collects membership fees by introducing quality-based criteria which contribute to determine the fees. Related reading: Personal Touch to subsidise members' regulatory fees The network said its "careful risk management" led to a 50% fall in the number of complaints reac...