Not upheld: order execution and communication clarity complaint against AJ Bell Securities Limited

Decision detail

Summary

Mr H complained to AJ Bell Securities after discovering a £80,000 share purchase on his account that he claimed was larger than expected. He alleged he had heard £18,000 during the phone call and was unaware AJ Bell could trade on his behalf. The ombudsman reviewed the phone call recording and found that AJ Bell confirmed the £80,000 amount multiple times, provided a detailed read-back of the order details, and explicitly asked Mr H to stop if he wanted to make changes. The ombudsman concluded that AJ Bell acted fairly and reasonably, and the complaint was not upheld.

The Ombudsman's reasoning

The ombudsman listened to the phone call and found that AJ Bell clearly confirmed the £80,000 amount multiple times, provided a detailed read-back of the order, and explicitly asked Mr H if he was happy to proceed. The ombudsman noted that Mr H did not question or correct the amount during the call despite multiple opportunities to do so. The ombudsman also considered that Mr H's online attempts showed he was trying to purchase £80,000, consistent with the phone order. While acknowledging potential background noise, the ombudsman found no obvious indication during the call that Mr H did not understand the discussion.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website