How delightful to read Alan Lakey’s comment in the May 13 edition of Money Marketing. This is the first comment of its kind that I have ever seen and frankly that in itself has caused me continuing astonishment.
The adjudicators at the Financial Ombudsman Service are not up to the task. We have an abundance of evidence within our office which shows that they are ill-equipped, lacking in knowledge of the products which they are asked to comment on and have no, to my knowledge, qualification to deal with complaints relevant to certain matters and frankly adopt an attitude which favours the consumer.
I am very happy to provide evidence of my statement and have asked Sir Christopher Kelly, chief executive of the service, to meet with me and discuss the frailties of the service.
The service is riddled with prejudice, guesswork and old-fashioned idioms. There is no credibility given to the current financial marketplace, nor the attitude taken by claimants in our ambulance-chasing society.
Until the ombudsman is prepared to look in the mirror and employ staff who have an understanding of the marketplace, the appropriate qualification and skills, then individuals such as myself and Alan will continue to be thwarted in our efforts to ensure that claims for misselling are upheld by what has become the laughing stock of the industry, known as the Financial ombudsman Service.