complaint about ifa

westy69

some advice please, if the FOS does not uphold a complaint (an ombudsmans final decision) or ir if they do uphold it but the customer is still not happy with the redress offered is there any other way of resolving this?

thankyou

sarahh56

Normally once the ombudsman makes their decision that's it. Sorry

Tibbledom

The FOS website at

http://www.financial-ombudsman.org.uk/faq/answers/complaints_a12.html

says

“If an ombudsman has made a decision on a case, that decision is final. Neither side can appeal to another ombudsman.
The consumer doesn't have to accept the decision – and if they don't, our decision does not affect their legal rights. So they are still free to go to court instead. However, we cannot give legal advice about how a court might handle a case or about any court requirements (such as time limits) that might apply”.

In reality if the Ombudsman has not upheld your complaint you have to ask yourself whether you have realistic chances of success through the courts.

dunstonh

The courts will review the complaint slightly differently to the FOS. Indeed, the FOS are slightly more favorable to the consumer in that they tend to disregard a number of documents which the court wouldnt. Namely the illustrations and key features documents. Both of which contain all the risk warnings. The FOS dont treat those as supporting evidence in most cases but a court would. There is also a greater onus on you to prove a mis-sale whereas the FOS require the adviser to prove there wasnt (although some decisions are made on balance of probability where conflicting information comes to light).

Whilst an adjudicator can often be overturned (still a minority of cases and decisions have been known to be overturned in both directions). The ombudsman is final.

Court action is not very common and where it has been used, it doesnt usually result in success. Some win of course but you are playing an odds game that doesnt stack in your favour. Especially if an adjudicator and omdudsman have ruled against you. Facts that would be mentioned to the judge in a case.

westy69

dunstonh wrote: »

The courts will review the complaint slightly differently to the FOS. Indeed, the FOS are slightly more favorable to the consumer in that they tend to disregard a number of documents which the court wouldnt. Namely the illustrations and key features documents. Both of which contain all the risk warnings. The FOS dont treat those as supporting evidence in most cases but a court would. There is also a greater onus on you to prove a mis-sale whereas the FOS require the adviser to prove there wasnt (although some decisions are made on balance of probability where conflicting information comes to light).

Whilst an adjudicator can often be overturned (still a minority of cases and decisions have been known to be overturned in both directions). The ombudsman is final.

Court action is not very common and where it has been used, it doesnt usually result in success. Some win of course but you are playing an odds game that doesnt stack in your favour. Especially if an adjudicator and omdudsman have ruled against you. Facts that would be mentioned to the judge in a case.

in actual fact both have ruled for me but the ombudsmans redress is totally different to the adjudicators!!

dunstonh

redress tends to follow certain formula. It depends on the type of complaint and the ombudsman often can have a little more discretion than the adjudicator. The basis of most is that you would be put in the position of either never having taken the contract or being put in to the alternative that is deemed better.

Remember that whilst you may have appealed to the ombudsman, the other party would have had a chance to put their side as well. Given the higher level of knowledge an ombudsman will typically have, they may well take a different view and decided on a different outcome.

You'll almost certainly find the advice they gave you was so trite as to have been a near tautology... leaving you without any claim at all.

It's a crooked industry. Hopefully your life has not been unduly affected and you can put it all behind you.

Yes, the 2% of complaints is really an indication that the 98% is bad. Most professions would be happy with a 2% failure rate.

Tibbledom

westy69 wrote: »

in actual fact both have ruled for me

Congratulations. :T :T

turbobob

westy69 wrote: »

in actual fact both have ruled for me but the ombudsmans redress is totally different to the adjudicators!!

The Ombudsman outranks the adjudicators. If it is at provisional decision stage you can still submit your arguments to the ombudsman. If its a final decision then it really is final.

Aegis

dunstonh wrote: »

Yes, the 2% of complaints is really an indication that the 98% is bad. Most professions would be happy with a 2% failure rate.

Possibly not air traffic controllers..

westy69

Tibbledom wrote: »

Congratulations. :T :T

thankyou but the redress i will get will not put me anywhere near back in a situation like i was previously in fact it will be less redress than the IFA made in commision as it stands at the moment!!

westy69

its probably not appropriateto post it at the monent as its still on going.....