sesame

Top six advice firms see complaints drop

Prudential has topped the Financial Conduct Authority's (FCA) list of the most complained about pension firms, as the number of grievances raised about retirement products jumps 20%.

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

The Financial Ombudsman Service (FOS) has upheld a complaint against Sesame about unsuitable annuity advice, but refused to side with the complainant about the redress due.

Insurer Aviva has vowed to drive up the number of products held by its customers following the integration of former rival Friends Life and launch of a direct to consumer service.

Restricted adviser network Sesame would be broke and unable to trade without the continued financial support of its parent company Friends Life, Aviva has said in a note to shareholders ahead of its planned acquisition of the provider.

Network Sesame has seen a 6% drop in adviser membership following its move to adopt a restricted proposition, its executive chairman John Cowan has said.

Does latest FCA data offer further evidence of declining adviser claims?

Profits at financial services firm LEBC were up 38% last year, reaching £774,000 by September 2013, results show.

Appointed representatives of Sesame have said the network is refusing to tell them whether rumours that it is going to go completely restricted are true.