Complaints against financial advice firms dropped in the second half of 2016 while Sesame remained the most complained-about adviser business, according to the Ombudsman's latest figures.
Financial advisers received a total of 1,044 complaints between 1 July and 31 December 2016, the data from the Financial Ombudsman Service (FOS) revealed - a 12% drop on the 1,189 received in the first half of the year. Despite closing down its investment advice operation last year, Sesame Ltd received 104 complaints in the second half of 2016, at an uphold rate of 23%. This is significantly lower than the first half of the year, however, when it again topped the pile with 160 complaints. Openwork again came second to Sesame, with 70 complaints at an uphold rate of 20%, while St J...
To continue reading this article...
Join COVER for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, key trend analysis and industry insights.
- Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
- Receive breaking news stories straight to your inbox in the daily newsletter.
- Members only access to monthly programme 'The COVER Review'
- Be the first to hear about our CPD accredited events and awards programmes.
