Spike in adviser complaints: FSCL

FSCL has released its annual report, which shows it investigated and resolved 193 cases, dealt with 2163 consumer inquiries and complaints and took 54 working days on average to resolve a case.

It dropped fees by 15% for its 6000 members in the year.

Complaints about insurance companies made up the biggest portion of the cases that were formally investigated, at 29%. Lenders were the second-biggest category, at 23%, followed by complaints against transactional service providers, at 10%.

Consumer credit arrangements were the most-complained about product.