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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.
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Withdrawn or abandoned by consumer | 35 | N/A | 26 | N/A |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% |