Coutts & Company received by far the most complaints for decumulation and pensions per 1,000 policies sold between July and December 2019, according to Financial Conduct Authority (FCA) data.
In the intermediation category, which includes brokers and advisers, the private bank and wealth management firm reported 65.8 complaints per 1,000 policies sold in the second half of 2019. Two-fifths (40%) of its decumulation and pensions complaints were upheld in favour of the client. The number of complaints for Coutts decreased slightly from its H1 figures, which saw the business receive 67.8 complaints per 1,000 policies, of which 75% were upheld. Skipton Building Society came in second place with 38.1 complaints per 1,000 policies sold, followed by Openwork, which received 11.1...
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