View more on these topics

Booklet to explain complaint handling

The Financial Ombudsman Service is offering a new booklet to explain its role and complaints&#39 handling procedures to IFAs, insurers, banks and building societies.

The booklet sets out the type of complaints that the ombudsman is able to deal with and gives advice on how firms should try to handle complaints before the service becomes involved.

It also covers the different stages in the ombudsman process, lays down the practical details about how firms should provide it with information, how issues of confidentiality are dealt with and how companies should comply with a ruling.

Chief ombudsman Walter Merricks says he wants the booklet to help firms take preventive measures to avoid complaints going as far as the FOS, as well as being a guide to going through the process.

But he says firms should feel free to approach the ombudsman service&#39s tech-nical support desk for advice before a complaint is officially made. Companies can also ask the ombudsman to arrange a training seminar for further assistance.

Merricks says: “We hope the guide will help firms in their dealings with us and demystify the ombudsman process, especially for firms who have had little or no direct contract with us and are uncertain about what happens if a complaint about them is bought to the ombudsman.”

Recommended

VCTs urged to open up on NAVs and holdings

Venture capital trust pundit Martin Churchill is calling on VCT managers to standardise their performance reporting in a bid to boost clarity across the sector.Churchill, who runs the IFA information service Tax Efficient Review, says current performance reporting is erratic and often as infrequent as bi-annual.He would like to see VCT managers produce regular reporting […]

Not best policy

Last week, I looked at the broad tax and financial implications of investment by companies. I touched on the potentially negative impact that investment can have on business assets taper relief and looked specifically at the tax implications for income and capital gains produced by direct and collective investments such as Oeics, unit trusts and […]

Bringing the PIA problem to a wider audience

The arguments raised by Christopher Mellor (Money Marketing, November 1) need to be addressed to a wider stage than ourselves to gain public approval for reforms.Contrary to the general view, some folk in the media understand the ombudsman problem.Paul Foot (Private Eye, October 5) comments on the departure of Julian Farrand, QC, the Pensions Ombudsman […]

FSA hit by boycott as it sets out pension tables

The FSA&#39s comparative pension tables were launched last week amid controversy with Skandia Life and St James Place Capital refusing to participate.Skandia is boycotting the tables because it claims they do not offer like-for-like comparisons and ignore the impact of past performance.St James Place, which also refused to take part in the unit trust tables, […]

China’s economic bounce may already be over

By Mike Riddell (17 May 2016) Most people would explain the rally in global risky assets since mid-February as being primarily down to the spectacular volte-face from the Federal Reserve, where Janet Yellen (and others) dramatically toned down their narrative that the Fed would be hiking rates as many as four times in 2016. This explanation […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com