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Other complaints data we publish

We publish a range of data separately to our annual data and quarterly data on financial products, and half-yearly data on financial businesses.

On this page

  1. Complaints about financial advisers
  2. Download the previous complaints data
  3. More information

New complaints about financial advisers

Following the 2016 Financial Advice Market Review, we’ve published a number of extra sets of data relating to complaints involving financial advisers. This page includes our latest data and, where relevant, the previous year’s figure for comparison.

  2022/23 2021/22
New complaints 1,823 1,823
As a proportion of all complaints 1% 1%
Complaints where the event being complained about happened more than 15 years ago 241 304
As a proportion of all complaints about financial advisers 7% 14%

Uphold rate for top five most complained-about products in complaints about financial advisers

  2022/23
  Complaints resolved Upheld
Defined Benefit Transfer (Not to SIPP) 399 58%
Personal Pensions 337 43%
Standard Investments 269 41%
UCIS and other Non-Standard Investments 311 64%
Stocks and shares ISA 318 32%

Uphold rate for different complaint types about financial advisers

  2022/23
  Complaints resolved Upheld
Mis-sale – suitability of advice 884 62%
Administration or customer service 503 30%
Mis-sale 33 14%
Charges, fees and commission 101 37%
Mis-sale – product not explained 68 21%
Total* 2,156 41%

*The total includes the total number of complaints received against Independent Financial Advisers

Resolved complaints where the event being complained about happened over 15 years ago

  2022/23 2021/22
  Complaints resolved Upheld Complaints resolved Upheld
Cases resolved on merit 231 27% 91 25%
Cases we couldn’t consider (for example, because of 6 + 3 time limit) 162 N/A 187 N/A
Withdrawn or abandoned by consumer 35 N/A 26 N/A
Total resolved cases 267 25% 304 25%