True Potential: Inside its five upheld FOS cases relating to British Steel

A look into the complaints made last year, all of which were upheld

clock • 3 min read

National advice firm True Potential was the subject of five complaints from the Financial Ombudsman Service (FOS) relating to British Steel in 2022.

According to the FOS database of decisions there were 63 upheld complaints relating to British Steel in the year, the majority of which were from smaller financial advice firms, however, True Potential featured five times, with all cases upheld. These cases were referred to the FOS as True Potential did not uphold the complaints stating that in each scenario the advice to transfer was suitable because of the needs of the clients, with almost all citing flexibility. According to several of the complaints, True Potential's legal advisers sent a "comprehensive document" to the FOS on 10 ...

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