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Displaying items by tag: FOS

The FOS has ruled against an IFA firm over a Sipps case, concluding that ‘unsuitable advice’ was given.
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Tuesday, 07 March 2017 12:11

FOS rules against firm over pension transfer

The FOS has ruled a firm was wrong over its claims that a man it advised was an insistent client and ordered it to pay compensation.
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The top 20 firms with the highest proportion of FOS complaints resolved in favour of the consumer in the life, pensions and decumulation category have been named.
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Wednesday, 08 February 2017 12:27

Upheld Sipps complaints on the increase

The proportion of Sipp complaints upheld during this financial year is higher than the last, with one quarter still to go.
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The Financial Ombudsman Service has ruled in favour of a client who complained over advice to transfer the value of his protected rights into a new Sipp.
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The latest FOS complaints data has shown Sipps had a higher complaint uphold rate than any other financial product.
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The Financial Ombudsman’s annual review published today has revealed a significant increase in complaints about personal pension plans, particularly SSAS and Sipps.
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The proportion of Sipp complaints upheld by the Financial Ombudsman Service has fallen to below half in the last quarter – despite a rise in new cases compared to last year.
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The Financial Ombudsman Service is forecasting it will have to handle a significant rise in pension complaints in 2015/16.
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