Upheld: Service failures generally complaint against Brown Shipley & Co Limited
Financial Ombudsman decision DRN-6117427 of 2026-02-23T00:00:00+00:00. Service failures generally complaint against Brown Shipley & Co Limited. Outcome: Upheld.
Decision detail
| Reference | DRN-6117427 |
|---|---|
| Decision date | 2026-02-23T00:00:00+00:00 |
| Firm | Brown Shipley & Co Limited |
| Product | Investment |
| Claim type | Service failures generally |
| Outcome | Upheld |
| Remedy | Brown Shipley must calculate and pay compensation for investment losses on ISA (based on 17 June 2024 completion date), GIA (based on 18 August 2024 completion date), and SIPP (based on 2 August 2024 completion date). Compensation must be paid within 28 days of notification of acceptance, with 8% simple interest per annum if not paid within 28 days. Distress and inconvenience award of £350 confirmed. Compensation to be paid directly to investment accounts where possible, or as lump sum to Mr H with tax adjustments for SIPP. |
Summary
Mr H complained about delays in transferring his ISA, SIPP and GIA from Brown Shipley to a new provider, with transfers not completing until April 2025 despite beginning in May 2024. Brown Shipley offered £10,542.71 compensation, which the FOS Investigator recommended increasing. Brown Shipley accepted the Investigator's findings on 3 December 2025 but failed to pay the agreed settlement by January 2026. The Ombudsman upheld the complaint, finding no legitimate reason for non-payment, and ordered Brown Shipley to calculate and pay compensation for investment losses plus 8% interest if not paid within 28 days.
The Ombudsman's reasoning
Both parties agreed with the Investigator's assessment and the dates when transfers should have been completed. Brown Shipley accepted the recommended redress on 3 December 2025 but failed to pay it. No legitimate reason was provided for the delay in settlement. The Ombudsman found no plausible explanation for non-payment and determined the previously recommended compensation fairly compensates Mr H for the delays experienced.
How this compares
| Group | Decisions | Uphold rate |
|---|---|---|
| Brown Shipley & Co Limited, all decisions | 28 | 34% |
| Service failures generally, all decisions | 32,767 | 33% |
| Investment, all decisions | 14,114 | 34% |
Source
Read the original decision on the Financial Ombudsman Service website