FOS upholds third of complaints about advisers

Annual review published

Carmen Reichman
clock • 2 min read

The Financial Ombudsman Service (FOS) has upheld 36% of complaints about financial advisers in the past year, down from 40% in the previous year, its annual review has shown.

The report, published on 13 June, showed FOS resolved 1,602 complaints about advisers in 2016-17, the majority of which were about self-invested personal pensions (SIPPs). FOS upheld 64% of the 242 adviser-related SIPP claims alongside 25% of PPI complaints; 43% portfolio management gripes; 39% personal pension problems; and 20% of complaints related to mortgage advice. The majority of resolved claims against advisers were related to advice (1,094), where FOS agreed with the consumer in 39% of cases. Administration too was a source of contention 434 times, with an uphold rate of 32%. ...

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

FCA to move Leeds office

FCA to move Leeds office

Signs 2 Wellington Place agreement

Jen Frost
clock 22 October 2026 • 1 min read
FCA small firms guide to help businesses respond in 'proportionate' way

FCA small firms guide to help businesses respond in 'proportionate' way

Sara Woodroffe outlines review timelines and speaks on guide

Sophia Panayi
clock 22 October 2026 • 2 min read
Appointed representatives: Are you really in control of the risks?

Appointed representatives: Are you really in control of the risks?

'The FCA doesn't just want oversight, it wants evidence'

Paul Bruns
clock 06 October 2026 • 7 min read