The Association of Independent Financial Advisers (AIFA) has welcomed today’s budget consultation from the Financial Ombudsman Service (FOS).
FOS is consulting on increasing the number of free cases so that firms with 25 complaints or less referred to the Ombudsman during the year would not incur a case fee. It also plans to freeze both the case fee at £500 and the industry levy.
Stephen Gay, director general of AIFA, said: “We have persistently pressed for a better deal for advisers