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Sesame remains top of FOS complaints list

Cowan-John-Sesame Bankhall-2014-headshot
Sesame Bankhall executive chairman John Cowan

Sesame continues to top the complaint charts at the Financial Ombudsman Service, new figures show.

The network has been a leader in the list for most of the past two years, despite closing its investment advice arm in 2015.

The network faced 88 complaints between July and December 2017, compared to 100 between January and July the same year – a drop of 12 per cent.

In second place, SJP reported 58 complaints for the second half of 2017, down from 72 in the first half, while Openwork reported 50 complaints.

However, Openwork had the highest complaint uphold rate of the trio at 47 per cent compared to 32 per cent for Openwork and 29 per cent for SJP.

Overall, IFAs were hit with new 816 complaints between June and December last year, a drop of 16 per cent compared to the previous six months. The uphold rate of complaints against IFAs was 34 per cent.

Pension complaints also decreased by 13 per cent to 3,224 in the second half of the year compared to 3,709 in the first half of 2017.

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Comments

There are 2 comments at the moment, we would love to hear your opinion too.

  1. However, Openwork had the highest complaint uphold rate of the trio at 47 per cent compared to 32 per cent for Openwork

    shurely shome mishtake, as they say in Private Eye….

  2. Sesame’s long history of merged networks made it one of the most fined regulated entities. From the DBS and others pensions review fines to the misselling and ‘pay to play’ scandals. Eventually it will fade away for someone else to repeat the same mistakes all over.

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