Investments - Advice
Unsuitable investment advice (COBS 9.2)
Mandatory ADR
Max award: £445,000 (from 1 Apr 2025)
8 weeks firm; FOS 6 months; court - 6 years limitation
Uphold rate: 34% (FOS 2024/25)
Key Legislation
Financial Services and Markets Act 2000; FCA COBS — COBS 9.2; COBS 2.1; FSMA 2000 s.138D; Consumer Duty PRIN 2A
Complaint Route: Financial Ombudsman Service
Type: Ombudsman (binding on firm)
Max award: £445,000
Uphold rate: 34%
Average resolution: 180 days
Pre-conditions: Complain to firm first; firm has 8 weeks to resolve; then refer to FOS within 6 months of final response
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IFAswealth managersplatforms
Annual complaint volume: 305,726 (FOS 2024/25 total)
Note: Compensation range: Loss vs. hypothetical suitable portfolio; uphold rate 44% for investment fraud