FOS upholds complaint against Quilter AR over unsuitable ISA advice

The decision outlined that in 2015, the complainants – Mr and Mrs S - met with a Quilter AR, who advised them on investments to repay their mortgage. It recommended investing £30,280 from their existing ISAs and bank deposits into new ISAs in a balanced managed fund, while maintaining £6,000 in bank deposits as an emergency fund. Mr and Mrs S aimed to use the ISAs to repay the mortgage within ten years, with monthly payments of £250 allocated toward this. However, the Quilter AR later calculated that monthly contributions of £250-£300 would be required to reach the £120,000 mortgage t...