Advisers with robust, repeatable processes in place have absolutely nothing to fear from the Financial Ombudsman Service (FOS), Tim Sargisson has said.
Sargisson, chief executive of Sandringham Financial Partners, said he "did not buy into" the fears expressed by some advisers over the reliability and consistency of FOS decisions. Sargisson said if advisers operated in a transparent and repeatable way there was nothing to worry about. He said: "People will complain, they just will. It does not cost them any money. But if you have got a really robust process I cannot believe that the FOS will find against you." Advisers who cannot demonstrate a clear audit trail or assign people the wrong risk ratings should be worried but he added...
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