AWD Chase de Vere spent more than £1.5m settling complaints and paying customer redress last year, and expects the figure to be even higher this year.
The company's accounts for 2010 show it paid £1,519,627 on complaints. The figure includes an amount which is understood to be part of its ongoing customer redress programme after the FSA ruled it had mis-sold pensions between 2006 and 2007. A total of £600,000 related to 'particular types of complaints', which were unspecified but which it said "currently have a high profile in the financial services industry". The group had a complaints provision, as at 31 December 2010, of just under £5.2m to deal with redress payments associated with its past business review as well as 'business a...
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