The Association of Independent Financial Advisers (Aifa) has called for the structure, processes and charges of the Financial Ombudsman Service (FOS) to be given a radical overhaul. What do you think of such an idea, and what do you think of the Hunt Review in general?
Fay Goddard, Aifa The FOS should change its structure, processes and charges to make it more transparent, accountable and easier to do business with - but we are looking wider than just accessibility and transparency. The best outcome for our members, and the industry, would be the creation of a dedicated small firms division. This would help to build confidence and trust, and protect both firms and consumers. Firms within the new division should have access to an oral hearing. Another positive outcome we are calling for would be transparency over the guidance and training provided to c...
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