FOS revealed the number of complaints that had been subitted to the organisation had reached 3,044 and was on target to reach similar levels to the end of the last financial year, coming in at just below 4,000.
The FOS indicated that the current figures were similar to those of the previous year.
A spokesperson at the FOS admitted the organisation had seen a change in the type of complaints recieved. She said: “We continue to see a steady, but fairly moderate flow of complaints, mostly about advice, charges and administration failings. It is positive to see so many complaints are resolved by mediation and conciliation – the least formal stage of our process.”
Ken Sives, partner at Sives Financial Services, said that he had expected complaints against firms to have risen. “A compensation culture is on the rise. The fact that these figures remain the same affirms that regulation is doing its job and keeping complaints at bay.”
Kim Barrett, proprietor at KS Barrett and Associates, added: “The Ombudsman would reduce the number of complaints it received if it made the complainant pay for the administration, which they would get back if they win their case. That way it could ensure the complaints it deals with are genuine.”
