IFSO on membership drive
“Many clients say they weren’t given critical information, and sometimes they simply haven’t understood the information provided by their financial adviser,” said Insurance and Financial Services Ombudsman, Karen Stevens.
“Improving communication and demonstrating good processes are two ways to demonstrate the value financial advisers can add for clients, while also ensuring compliance and risk protection.”
IFSO has released a report covering the first quarter of this year, which shows a steep increase in the number of complaints.
“From December 2015 to March 2016, we received 985 complaint inquiries, and we accepted 100 complaints for investigation,” Stevens said. “During the same period last year, we dealt with 895 complaint inquiries and accepted 60 complaints.”
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