FOS throws out most complaints against advisers

The Financial Ombudsman Service (FOS) threw out two-thirds of gripes against the most complained-about advisory groups in the first half of 2013, figures show.

On average, 33% of the 714 complaints against advisers handled by the FOS in the six months from 1 January were found in favour of the complainant, against an average of 64% across all businesses. In total, six advisory groups made it onto the FOS's latest complaints leaderboard, which only lists those firms which had both received 30 complaints in the period and had at least a further 30 resolved by the Ombudsman. The largest of these, Sesame, was predictably the most complained-about advice business, with 292 gripes in the period, marginally more than it faced in the previous six mo...