Financial Conduct Authority (FCA) technical specialist Rory Percival challenged advisers to provide evidence of inconsistency between how the regulator and Financial Ombudsman Service (FOS) judge complaints. Adviser Nick Bamford has accepted...
Perception is, they say, reality. That is certainly the case when it comes down to the love/hate relationship that IFAs have with the FOS. The majority of us understand fully why the FOS is needed. It is one in a series of checks and measures that are important in maintaining consumer confidence in the financial services sector; an independent body that comes into play when a complaint from a consumer to an adviser cannot be satisfactorily resolved between them. The vast majority of IFAs rarely if ever have any contact with the FOS. This is primarily because they have strong c...
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