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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.
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.
New complaints about financial advisers
2020/21 | 2019/20 | |
---|---|---|
New complaints | 2,774 | 1,635 |
As a proportion of all complaints | 1% | <1% |
Complaints where the event being complained about happened more than 15 years ago | 363 | 241 |
As a proportion of all complaints about financial advisers | 13% | 15% |
Uphold rate for top five most complained-about products in complaints about financial advisers
2020/21 | ||
Complaints resolved | Upheld | |
---|---|---|
SIPPS (Self Invested Personal Pensions) | 387 | 47% |
Occupational pension transfers | 164 | 50% |
Stocks and shares ISA | 98 | 48% |
Personal pensions | 88 | 26% |
First charge (interest only – no repayment vehicle) | 72 | 0% |
Uphold rate for different complaint types about financial advisers
2020/21 | ||
Complaints resolved | Upheld | |
---|---|---|
Mis-sale – suitability of advice | 573 | 47% |
Administration or customer service | 400 | 29% |
Mis-sale | 308 | 29% |
Charges, fees and commission | 92 | 21% |
Mis-sale – product not explained | 87 | 33% |
Total | 1,709 | 31% |
Resolved complaints where the event being complained about happened over 15 years ago
2020/21 | 2019/120 | |||
Complaints resolved | Upheld | Complaints resolved | Upheld | |
---|---|---|---|---|
Cases resolved on merit | 133 | 17% | 103 | 30% |
Cases we couldn’t consider (for example, because of 6 + 3 time limit) | 209 | N/A | 131 | N/A |
Withdrawn or abandoned by consumer | 36 | N/A | 19 | N/A |
Total resolved cases | 378 | 29% | 253 | N/A |
Download the previous complaints data
Financial advisers annual complaints data – 2020/21
xlsx (13 KB)
Financial advisers annual complaints data – 2019/20
xlsx (13 KB)