positive solutions

1,044 complaints against advisers in six months

Some advisers did not meet regulatory independence requirements

Top six advice firms see complaints drop

Positive Solutions has reappeared in the Financial Ombudsman Service's (FOS) list of the top five most complained about advice firms.

Network Intrinsic is launching a practice buyout scheme for its appointed representatives (ARs), with parent Old Mutual Wealth offering financial backing at preferential rates to facilitate deals.

National IFA Positive Solutions has seen its adviser numbers tumble 64% in the last five years, though the level of departures seems to have stabilised.

Network Sesame has again come out top as the most complained about advice firm, although numbers of cases against it were down, according to the Financial Ombudsman Service's (FOS) half yearly figures published today.

National advice firm Positive Solutions said it is close to resolving an IT error which has left several advisers without pay for as many as four days.

The number of complaints upheld against networks and nationals by the Financial Ombudsman Service (FOS) have dropped in the last half year, figures show.