Advice suitability complaints upheld by FOS head for record high

Most recent FOS data for 2022/23 shows 884 resolved complaints against financial advisers for mis-selling and or the suitability of advice, and almost two-thirds (62%) of all complaints were upheld. Oxford Risk noted that compares with 570 resolved complaints in the previous year when almost half (49%) of all complaints were upheld, while the previous year saw 573 resolved complaints and 47% upheld. Suitability and mis-selling "remain the most complained about issues for financial advisers and failure to address the growing regulatory focus will mean the industry heading for a new rec...