Four Financial Planning and wealth management firms are included in the table of most complained-against financial services firms published by the Financial Ombudsman Service for the first half of 2023.

The FCA has restricted business at London IFA firm Independently East Ltd (IEL) (FRN488046) after it failed to pay a £70,000 Ombudsman award to a client.

The number of complaints about life and pension and investment companies fell by 8% during 2022, according to the latest data from the Financial Ombudsman Service.

The Financial Ombudsman Service’s uphold rate has remained steady at 35% despite a rise in new enquiries and complaints about financial products.