Increase in financial services disputes

The deteriorating economic circumstances have resulted in an increase in financial services disputes.

According to the Financial Ombudsman Service in the year to 30 June 2008 there was a 152% increase in disputes about managed investments and a 55% rise in financial planning disputes. There was also 62.7% rise in cases relating to fixed rate loans.

It is an appropriate time to review your dispute resolution procedures and your advice systems and standards.

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