FOS

The number of complaints from self-invested personal pension (SIPP) savers dealt with by the financial Ombudsman rose almost 50% last year, with most gripes linked to recommendations to invest in unregulated investment schemes, according to a report....

Homeowners lodged a record number of mortgage complaints to the Financial Ombudsman Service last year.

The Financial Ombudsman Service (FOS) has rejected five out of 43 claims at decision stage against advice to invest in Arch Cru since it started publishing complaints decisions last April, its data has shown.

Smaller advisory firms have found it easier to implement changes introduced following the Retail Distribution Review (RDR) and stand to be the real winners from the overhaul, according to consultant and adviser Phil Billingham.

Industry campaigners have welcomed confirmation the Financial Conduct Authority (FCA) will consult on the re-introduction of a 15-year time limit on complaints against advisers reaching the Financial Ombudsman Service (FOS).

Financial advisers will contribute £3.7m toward the Money Advice Service (MAS) in 2014-2015, a decrease of almost 18% on the previous year.

SIPP complaints to the Financial Ombudsman recently faced a sharp increase. Why did this happen? Fiona Murphy reports.

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