Robbie Williams hit the rock bottom of depression because of the one or two (in the Daily Mail and on Never Mind…) who said he was rubbish, despite the hundreds of thousands who adored him in huge stadiums. Talk to any financial adviser, and it’s the same with the one complainant from hundreds of satisfied clients. The statistical good news is still better, as only around 3% of the total received by FOS, the Financial Ombudsman Service are against advisers, and the overall ‘uphold’ rate is only around 35%. Banks and credit cards still make up the huge majority, and they do, of course, have whole departments dedicated to dealing with them. For most smaller advisers, it’s a very personal and stressful thing. Of course, if we get it wrong, we get it wrong but I’ve talked to many for whom that single complaint becomes a sleep-depriving obsession until it’s resolved, one way or another. The flip side, perhaps, of ‘small is beautiful’.
“Reeves backs down on plans to cut ISA limit”
So it looks as though Cash ISAs are safe for the moment (FTM – is that a thing?) Rachel has apparently ‘bowed to pressure’ from the banks and building societies and decided not to reduce the allowance to £4,000 for cash and to keep the £20,000 parity with Stocks and Shares ISAs. Bowed also to common sense, I’d say.
