The number of complaints against IFAs, advisers and execution-only intermediaries have increased 19 per cent from 20,713 in the second half of last year to 24,458 in the first half of this year.
The FSA’s complaints data, published today, shows the number of complaints against banks have remained stable over the same period, increasing by 1 per cent from 1.27 million to 1.28 million.
Complaints about mortgage firms, which includes brokers and mortgage lenders, increased 2.6 per cent from 29,245 to 30,014 over the period.
Life insurer complaints increased by 13.3 per cent from 42,192 in H2, 2010 to 47,853 in the first half of this year.
The total number of complaints about all financial services firms increased by 3 per cent, from 1.8 million to 1.85 million.
General insurance and pure protection product complaints, including PPI, made up 45 per cent of total complaints with 848,357, while the proportion of complaints about banking products, including current accounts, savings products and credit cards, accounted for 43 per cent with 812,197.
Complaints about pension products made up 4.4 per cent of total complaints with 80,879, while complaints about mortgage products made up 3.6 per cent with 67,309.
The total number of complaints closed during the period decreased by 9 per cent, from 1.71 million to 1.56 million. The percentage upheld remained stable, increasing slightly from 49 per cent in H2, 2010 to 50 per cent in H1, 2011.
The total redress paid by financial services firms decreased by 11 per cent from £459m in H2, 2010 to £409m in H1, 2011.