An investigation into the Financial Ombudsman Service (FOS) revealed the body undertrains its staff, resulting in them not fully understanding the products customers are complaining about.
Channel 4 programme, Dispatches, which aired on Monday 12 March, painted the FOS in a negative light, suggesting employees were not adequately trained to deal with cases and that people lose out because it's easier to let down a complainant rather than persuade a business of the decision taken. An undercover reporter secretly filmed interviews with FOS employees who admitted to not being fully competent at their jobs. One admitted to googling different products, while another said the customers often know more about the product than the investigators because they are "so invested in thei...
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