FOS Complaint

westy69

really need a bit of advice please, i currently have a complaint lodged with the FOS who understandably are taking a long time to even allocate to a caseworker, now in the meantime what are my options, my complaint is about the IFA not understanding my attitude to risk and consequently the funds i am in being very volatile and have suffered quite a significant loss , i really dont know what is likely to happen once the ombudsman looks at the case but what can i do in the meantime? - find a new IFA carry on dealing with my current one after having a meeting? basically does anyone know what my options are?

thanks

dunstonh

A new IFA can take over but you should make them aware of the complaint in process. In some areas, it may restrict the advice but in others it wont.

Any redress payable, should it result in that, will be upto the point of change. So, if the new IFA builds you a lower risk portfolio on 15th June, the value of the redress will be calculated on values taken on 14th June.