The Financial Ombudsman Service (FOS) has revealed it has received "around 30" Woodford-related complaints in the week that saw the closure of the Woodford Equity Income fund and a subsequent announcement from Woodford Investment Management on Tuesday (15 October) that it would be shutting the firm.
In a statement to PA's sister title Investment Week, the FOS said that while it "cannot give exact figures on how many complaints it has received involving Woodford", it estimated that it has already received "around 30" about financial products offered by the firm. It added that due to the way the FOS categorises complaints, an "exact timescale" of complaints could not be provided. The spokesperson said: "Most of the products we see complained about are on investments and pensions and these are usually about the misrepresentation of the funds." Woodford IM declined to comment. ...
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