Partially upheld: failure to provide ongoing advice service / missed annual review complaint against Quilter Financial Services Limited
Financial Ombudsman decision DRN-6309068 of 2026-06-15T00:00:00+00:00. failure to provide ongoing advice service / missed annual review complaint against Quilter Financial Services Limited. Outcome: Partially upheld.
Decision detail
| Reference | DRN-6309068 |
|---|---|
| Decision date | 2026-06-15T00:00:00+00:00 |
| Firm | Quilter Financial Services Limited |
| Product | Pension |
| Claim type | failure to provide ongoing advice service / missed annual review |
| Outcome | Partially upheld |
| Remedy | Quilter must refund 12 months of ongoing advice charges for the October 2020 review that was not provided, plus investment growth those sums would have experienced if invested. Compensation to be calculated using pension performance from charge date to final decision date, with a 15% notional reduction for tax effects. Payment to be made into the pension within 28 days, with interest at 8% per annum simple if paid late. |
Summary
Mr W complained that Quilter failed to provide ongoing financial advice services for which he paid annual charges from January 2016. The complaint alleged missed annual reviews and unexplained charges. Both parties agreed that the October 2020 review was missed, but disputed whether the October 2018 review was also missed. The ombudsman upheld the complaint regarding October 2020 only, finding the October 2018 claim was outside the six-year jurisdiction limit under DISP 2.8.2R, as Mr W ought reasonably to have understood the October review pattern by 2021. Quilter was directed to refund the 12 months of charges for the October 2020 review plus investment growth, with a 15% tax adjustment.
The Ombudsman's reasoning
The ombudsman established that Quilter had set a pattern of October anniversary dates for reviews from October 2016. The complaint was made on 13 December 2024, which is more than six years after October 2018, placing that review outside the FOS jurisdiction under DISP 2.8.2R. Mr W ought reasonably to have understood the October pattern by October 2021 when he had received three consecutive October reviews. The only missed review within jurisdiction was October 2020, which both parties agreed was not provided.
How this compares
| Group | Decisions | Uphold rate |
|---|---|---|
| Quilter Financial Services Limited, all decisions | 46 | 38% |
| Pension, all decisions | 15,409 | 47% |
Source
Read the original decision on the Financial Ombudsman Service website