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. More information

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Withdrawn or abandoned by consumer 36 N/A 19 N/A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