How to complain about a financial advisor
**TL;DR:** If your financial advisor hasn’t met your expectations, you can complain directly to them first, then escalate to the Financial Conduct Authority if needed. Keep records of everything, and know that most complaints get resolved within 8 weeks through proper channels.
## Introduction
Working with a financial advisor should feel like a partnership. But sometimes things go wrong. Maybe they didn’t explain your pension properly. Perhaps they ignored your investment preferences. Or costs spiralled without warning.
**How to complain about a financial advisor** is more straightforward than you might think. The good news is that the UK has strong protections for investors like you. You don’t need to suffer in silence. This guide walks you through each step of the complaints process so you can get answers and potentially recover money if you’ve been treated unfairly.
## What Should You Complain About?
Your financial advisor owes you a duty of care. You can complain if they’ve breached this duty. Common issues include poor investment advice, undisclosed fees, unsuitable recommendations for your circumstances, and failure to follow your instructions.
The Financial Conduct Authority (FCA) protects consumers. They set rules that advisors must follow. If your advisor breaks these rules, you have grounds to complain. Examples include recommending investments that don’t match your risk tolerance or failing to explain charges clearly before you sign up.
## How Do You Start a Formal Complaint?
**Should you complain directly to your advisor first?** Yes, absolutely. Contact them immediately and explain what went wrong. Many issues get resolved at this stage within days. Keep it brief and factual. Email works best because you’ll have a written record.
Your advisor should give you a formal complaints procedure. Ask for it in writing. They must respond within 8 weeks (or sometimes 4 weeks for simpler cases). If they don’t, you can escalate immediately to the Financial Ombudsman Service.
## What Happens if Your Advisor Refuses to Help?
**Can you take your complaint further?** Absolutely, and you should. The Financial Ombudsman Service (FOS) is free and independent. They settle disputes between consumers and financial firms.
You’ll need to contact them within 6 months of receiving the firm’s final response. The Ombudsman will investigate your case properly. They can award compensation up to £385,000 if you’ve been treated unfairly. They don’t charge you anything. The process is fair and impartial.
## What Evidence Should You Gather?
**How do you build a strong complaint?** Collect everything. Gather emails, letters, and statements. Save screenshots of online conversations. Write down dates when things went wrong. Note what your advisor promised versus what actually happened.
Document your original instructions too. Did you tell them you wanted low-risk investments? Did you specify that you couldn’t afford losses? All this evidence strengthens your case significantly. Be organised and clear. Facts matter more than emotion.
## Conclusion
Complaining about a financial advisor doesn’t need to be stressful. Start with a direct conversation, escalate to the FCA complaints process if needed, and use the Financial Ombudsman Service if the firm won’t help. You’re protected by UK law, and compensation is available if you’ve suffered losses through poor advice.
Don’t delay. Time limits apply to complaints. Act quickly to protect your interests. **Find a financial advisor near you by searching our free UK directory** and get recommendations for trustworthy professionals who’ll treat you fairly.
## FAQ
**Q: How long do I have to complain about my financial advisor?**
A: Six years from when the problem occurred, though you must contact the FOS within 6 months of receiving the firm’s final response.
**Q: Will complaining cost me money?**
A: No. The complaints process is free. You don’t pay to use the Financial Ombudsman Service either.
**Q: What if my advisor has disappeared or closed their business?**
A: The Financial Services Compensation Scheme (FSCS) may help. They protect consumers when firms can’t pay compensation. You’re covered up to £85,000.
**Q: Can I get my money back through a complaint?**
A: Yes, if you’ve suffered loss through unsuitable advice. The Ombudsman can order the firm to refund money or pay compensation for financial losses.
**Q: Do I need a lawyer to complain?**
A: No, you don’t. The process is designed for consumers to use without legal help. But you can get legal advice if you want to.