London advice firm told to pay compensation over ongoing fees

Advice started in 2010

Sophie King
clock • 2 min read

North West London-based advice firm Strategic Financial Solutions (SFS) has been told to pay compensation by the Financial Ombudsman Service (FOS) following a disagreement with a client over ongoing charges.

The client, referred to by the ombudsman as 'Mr W,' complained he was not provided with enough information about how charges would be applied to three consecutive annual £30,000 lump-sum investments he made with Skandia (now Old Mutual) after receiving advice from SFS. Mr W said he did not think the advice given to him by SFS was in his best interests, suggesting the charges were 25% higher than he was led to believe and were not discussed in enough detail. He added that he raised concerns about the charges at the time. The ombudsman's adjudicator, who had a first look at the case, co...

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 Your profession

What's haunting financial advisers this Halloween?

What's haunting financial advisers this Halloween?

Six experts share their spooky thoughts

Professional Adviser
clock 31 October 2025 • 4 min read
Feel Good Friday: Walbrook Institute London hosts graduation for financial advice and banking students

Feel Good Friday: Walbrook Institute London hosts graduation for financial advice and banking students

Celebrating higher education students and advanced LIBF qualification holders

Professional Adviser
clock 31 October 2025 • 1 min read
Protection did not make the targeted support cut and rightly so

Protection did not make the targeted support cut and rightly so

Tony Mudd on saving for tomorrow and protecting today

Tony Müdd
clock 30 October 2025 • 3 min read