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Portfolio management complaints up more than 50%

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Portfolio management complaints up more than 50%

Complaints about portfolio management have rocketed by more than 50% quarter on quarter.

According to the latest figures from the Financial Ombudsman Service (FOS), the spike in complaints linked to portfolio management amounted to 53% after an analysis of two three-month periods between April and June 2012 and July to September 2012.

FOS said 460 complaints were received from consumers about portfolio management, versus 300 in the previous quarter.  49% were resolved in favour of the consumer.

The latest data ranks portfolio management within FOS' top 20 list of most complained about financial products.  Payment Protection Insurance (PPI) topped the list.

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