Just three adviser complaints at FSCL – so far

In its first annual report, Financial Services Complaints Ltd (FSCL) said it handled two complaints involving insurance brokers and one involving a mortgage broker.

FSCL chief executive Susan Taylor said she was surprised at the low level of complaints - FSCL received 250 telephone enquiries and investigated 35 cases, resolving 20 with 15 by negotiated agreement - but that she expected complaint numbers to rise.

Taylor said that at present she believed there was very little consumer awareness about the new financial regime in operation.

"I think as time goes on and hopefully consumer awareness increases, generally speaking complaints will rise across the board," she said.