News & Views

Do you believe the FOS help complainants create a complaint where none existed?

FOS Survey for financial advisers

10 Jul 2018

Do you believe the FOS help complainants create a complaint where none existed?

This is just one of 15 questions in our current FOS survey. 

The current ‘score on the doors’ is that 72%  reckon the above statement is true. 

Very worrying indeed, but it is some comments added, beyond a simple yes or no over the last week that should really start ringing bells with the FOS.  

  • Very much so, and it takes its lead from the Regulator, the FCA
  • I don't think they do as the complainant "manufactures" the complaint. However, I do believe an inherent bias in favour of redress "for trouble caused" at worst and generally in favour of the client in many cases exists. 
  • Complaints are upheld for reasons other than that which the complainant complained about in the first instance.
  • An impartial organisation cannot encourage complaints by offering iPads for lodge complaints
  • There was a case where a client was making a complaint against a DB scheme, but when FOS realised the company concerned wasn't on it's register, the FOS employee suggested the client complain against us!!! 
  • The adjudicator found in our favour! The Ombudsman reinvented the complaint.
  • Not actually create complaints but manipulate evidence on complaints to support their views. 
  • I believe that complainants are apt to add to their initial complaint when in conversation with the Ombudsman and I know that FOS will look at the wider picture if they feel it is reasonable to do so.
  • The complaint was not about investment performance but the adjudicator seems to be viewing it as such. 

What are your thoughts, help us with your views now.

Many thanks for your input. The results will be published in August.

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