Advisers split on outsourced complaint handling appeal

“It could have potential as it is something that I have been asked to do in the past. It will be interesting to see what their track record eventually is.”

Paolo Standerwick, director of MLP, told FTAdviser that in his view the service is “limited” to companies who have had many advisers who may have moved on and “it’s de-personalised and no one is now there to deal with cases”.

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“If a firm still has the adviser there, then there is plenty of scope to involve the adviser with the complaint, and they should do. Hence small firms in my opinion should do it themselves.

“Also I have experienced compliance people doing it for me and so many are so over the top that it can work against the firm too. Most good firms should have a system in place for themselves.”