Alison Maynard
Highly volatile markets coupled with declining investment returns have resulted in a significant rise in complaints to the Financial Ombudsman Service.
According to data presented to a Responsible Officers’ Forum by the new Ombudsman of Investments, Life Insurance and Superannuation within the Financial Ombudsman Service Limited, Alison Maynard, financial planning complaints have risen by nearly half, while complaints relating to managed investments have nearly doubled.
Financial planning related complaints rose from 156 in 2007 to 258 in 2008, while complaints relating to managed investments rose from 53 in 2007 to 124 in 2008.
