Sesame has seen an 87 per cent year-on year increase in the number of complaints it received between July and December last year.
Data published by the Financial Conduct Authority today shows that Sesame received a total of 1,978 complaints in the second half of last year, compared to 1,060 in the same period in 2011.
Sesame upheld 15 per cent of its complaints between July and December 2012.
Openwork received 710 complaints in the second half of last year, while Personal Touch Financial Services had 523 complaints.
The three companies were the only adviser firms to make the FCA’s complaints table, as the regulator only requires firms with more than 500 complaints within a six month period to publish their complaints data.
As Openwork and PTFS did not receive over 500 complaints in the second half of 2011, there is no comparable data for these firms.
Of Sesame’s total 1,978 complaints, 840 related to decumulation, life and pensions products, and 736 related to general insurance and protection business. A further 306 related to investments, 88 related to mortgages and eight related to banking complaints.
Openwork’s 710 complaints were made up of 486 GI and protection complaints, 108 investment complaints, 57 mortgage complaints, 56 life and pensions complaints and three banking complaints.
PTFS’ 523 complaints comprised 445 GI and protection complaints, 62 mortgage complaints, 12 investment complaints and four life and pensions complaints.
Openwork upheld 23 per cent of its complaints between July and December last year, while PTFS upheld 14 per cent.