More than half of the complaints around self-invested personal pension schemes (Sipps) passed to a financial ombudsman were upheld during the three months to 31 December 2017, making it one of most upheld areas of complaint.
The Pensions Ombudsman has not upheld a complaint from a client and ex financial adviser accusing AJ Bell of poor service, negligence, maladministration and misconduct, which saw the investment firm take the “unprecedented decision” to end its relationship with him.
The number of new cases dealt with by the Financial Ombudsman increased 92% between 2011 and 2012 bringing the total number of new cases for the year to 508,881.
Portfolio management is ranked amongst the 20 most complained about financial products, the latest data from the Financial Ombudsman Service reveals.
