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Barclays holds top spot in investment complaints data

Barclays holds top spot in investment complaints data

Barclays extended its run at the top of the Financial Conduct Authority’s investment complaints data for a second six month period with 9,136 consumer complaints received over the end of 2017. 

Prudential maintained the second place spot it has held since Barclays dethroned it at the top of the table in the first half of 2017, with 3,453 complaints. The data is unadjusted for size of client base.

Third placed was Aviva’s life division, from 18th most complained-about in the prior six months and 14th in late 2016.

The highest rated wealth management business was Hargreaves Lansdown, at number seven in the league table, followed by St. James’s Place, way down in 38th place.

Excluding a final surge in the number of payment protection insurance claims ahead of a hard deadline for compensation, up 40% to 3.76 million, the number of overall complaints was essentially flat period-on-period at 22 million.     

Director of strategy and competition at the FCA Christopher Woolard said: ‘Having set a deadline for PPI complaints, we are encouraging consumers to decide whether they want to claim.

‘When PPI is taken out of the mix, the numbers of complaints firms are receiving has remained stable. Firms should be doing all they can to reduce complaints and ensure they are treating customers fairly.’

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