ISO fields five adviser complaints

The ISO’s annual report was released today, which shows complaints have decreased in number, but increased in complexity.

The scheme investigated 254 complaints and responded to 3057 complaint inquiries in 2014-2015, down from 300 a year earlier.  Just five complaints related to advisers, the same number as last year.

“The complaints we are now investigating are more complex, and many of the straight-forward issues are being resolved earlier by our participants,” ombudsman Karen Stevens said. 

“This is a positive trend for the industry and its customers. Industry practice is changing for the better, so complaints can be resolved within the insurance or financial service provider’s own complaints processes. This is often assisted by our free inquiries service, used by customers of our participants to seek information or guidance on issues from the ISO Scheme. We can help consumers to resolve these issues before they escalate into disputes.”