FCA: Advising, selling and arranging top reason for complaints

Makes up 43% of complaints

Tom Ellis
clock • 3 min read

The top reasons for complaints about firms in financial services in the first half of this year were advising, selling and arranging, according to the Financial Conduct Authority's (FCA) latest data.

The FCA said advising, selling and arranging represented 43% of the 3.32 million complaints recorded by firms in the period. The financial watchdog also said this had been the top reason for complaints "over the last few years". A total £1.99bn was paid in redress to consumers in the first half of 2017, although 82% of that figure was paid to payment protection insurance complainants.   Advisers Advice firm SJP Wealth Management ranked third in the intermediary category for complaints about decumulation and pension policies - behind Coutts and Barclays - as well as for investment sa...

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