FOS rejects more than half of complaints against advisers

Carmen Reichman
clock

Advisers have seen the number of complaints against them soar over the past year, however figures show that more than half of the cases were dropped by the ombudsman.

The Financial Ombudsman Service's (FOS's) annual review, published today, revealed that whereas complaints involving advisers almost doubled over the last year to a total of 4,139, the proportion of cases against IFAs that were actually upheld fell to 42%, compared with 54% last year. This means that only about 200 additional cases involving IFAs were handled by the FOS in the last financial year, while IFAs' share of overall cases continued to stand at 1%. Chief ombudsman Natalie Ceeney said: "For the second year running the proportion of complaints the ombudsman received about IFA's...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Government to reconsider rejection of Waspi compensation

Government to reconsider rejection of Waspi compensation

Rethink does not guarantee that financial redress will be awarded

Jonathan Stapleton
clock 12 November 2025 • 3 min read
FCA seeks experienced professional opinion on its decision-making

FCA seeks experienced professional opinion on its decision-making

Regulator opens applications for positions on three statutory panels

Isabel Baxter
clock 10 November 2025 • 1 min read
FCA warns on 'poor' advice consolidation practices

FCA warns on 'poor' advice consolidation practices

Including on debt and incentives

Sahar Nazir
clock 31 October 2025 • 3 min read