What the FOS? Berkeley Burke hits out at ombudsman's decision-making

In a statement given exclusively to Professional Adviser, Berkeley Burke argued consumers would lose out on choice in the retirement market because of the unpredictable nature of Financial Ombudsman Service (FOS) decisions. "The ultimate losers will be the country's consumers and savers, who will simply have less choice over where and how to invest their money," it said. "Not because the market will shrink due to the shedding of firms, but because the current market for well-run, highly regulated, fully compliant financial services - more-than-adequately capitalised FCA-regulated firm...