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Hargreaves tops FCA's investments complaints list
by Danielle Levy on Apr 09, 2014 at 09:30
Hargreaves Lansdown has topped the FCA's list of consumer complaints in the investments category during the second half of 2013.
Barclays attracted the most complaints at a firm level over the same period, according to FCA data. Barclays attracted 310,000 complaints between July and December 2013, albeit a 17% fall on the first half of 2013. Lloyds came second with 257,000, representing a 1% fall on the previous half. MBNA was fourth with 213,000, down 10%, while the FCA received 181,000 complaints about Bank of Scotland, an 18% decrease on the first half.
Hargreaves, led by Ian Gorham (pictured), received just under 3,200 complaints between July and December 2013 concerning investments and was followed by Barclays Stockbrokers with 1,799. Santander was a close third with 1,791. Financial Administration Services was forth with 1,540 and HSBC came fifth with 1,480.
Skandia MultiFunds also made an appearance on the FCA's investments complaints list with over 500 opened during the second half, while TD Direct Investing also attracted over 800.
On a positive note, total complaints filed fell 15% compared to the 2.9 million reported during the first half of the year.
Martin Wheatley, FCA chief executive, said: 'No firm wants to top this particular list and they all should be striving to ensure that customers are being treated fairly and not given cause to complain. This is an indication that firms seem to be putting customers at the heart of their business, however, there is clearly more for us all to do to show consumers their interests come first.'
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