Displaying items by tag: Financial Ombudsman Service

The Financial Ombudsman Service is forecasting that the number of complaints it is set to receive this year will hit 210,000 - nearly 30,000 higher than it predicted in December.

The consumer complaints body the Financial Ombudsman Service is to increase its maximum compensation award from £375,000 to £415,00 from 1 April.

The number of complaints about life and pension and investment companies fell by 8% during 2022, according to the latest data from the Financial Ombudsman Service.

The Financial Ombudsman Service upheld a higher percentage of complaints in the second half of 2021 than the previous six months, latest data from the complaints handling service has revealed.

The Financial Ombudsman Service (FOS) has upheld two complaints about Integrity IFA’s advice involving unregulated investments in SIPPs and scolded the advice firm for ignoring both clients and the ombudsman.

Pension adviser Portal Financial Services LLP has shut its doors to new business following a string of complaints to the Financial Ombudsman Service, many brought recently by Claims Management Companies.

Financial Planning firm Insight Financial Associates (Insight) has been fined after failing to advise on a property investment when recommending a SIPP switch in 2010.

The Financial Ombudsman is to increase its case fee by £100 to £750, according to its new budget and financial plans published today.

The Financial Ombudsman Scheme is planning to cut 150 jobs, including management positions, due mainly to a rapid decline in PPI work follow the ending of PPI claims to the Ombudsman.

Financial advice firm Professional Financial Services (PFS) has been ordered by the Financial Ombudsman (FOS) to pay out after advising a client to invest in an unregulated collective investment scheme.