FOS lead ombudsman challenges 'myth' of consumer favouritism

"More often than not we do support the adviser," Mitchell (pictured) told advisers at a conference examining alternative investments in London on Thursday. Mitchell reiterated the FOS receives few advice complaints, pointing out it had only 850-odd open complaints related to unregulated collective investment schemes (UCIS) or non-mainstream pooled investments (NMPI) recommendations. This is against a rate of more than 4,000 new PPI gripes it receives each week. Mitchell said clearly communicating risk - and recording that this has taken place - remained the most important thing adv...