Towry received over 2,000 complaints in the second half of last year, with 97 per cent of complaints upheld over the same period.
The bulk of Towry’s complaint figures between July 1 and December 31 relate to its takeover of Edward Jones, with 1,301 new complaints received by Towry Edward Jones and 766 received by Towry Investment Management.
Overall Towry received a total of 2,067 complaints over the six month period.
Of the 1,554 closed complaints relating to Edward Jones, 97 per cent were upheld. Of the 667 closed complaints relating to Towry Investment Management, 93 per cent were upheld.
The complaints figures, published by the FSA today, reflect the complaints that have been received by the companies in the first instance. The Financial Ombudsman Service complaints figures published in February reflect the complaints that have been through the company’s internal complaints procedure and which are then referred to FOS.
The FSA figures reveal that Norwich & Peterborough Building Society, which has made a £57m provision for compensation for customers that invested in Keydata products, received 2,301 new complaints in the second half of last year.
N&P upheld 16 per cent of the 2,233 cases closed during the period.
Sesame received 795 new complaints, and upheld 18 per cent of 754 closed complaint cases.
Barclays Bank received the most complaints between July and December last year, with 276,315. The bank closed 279,646 complaints over the same period, with 55 per cent of cases upheld.
Santander’s banking arm received 195,475 new complaints and closed 252,963 complaints, of which 53 per cent were upheld.
Lloyds TSB Bank received 175,892 new complaints and closed 136,908, of which 48 per cent were upheld.