An additional 12% of brokers said they have not seen an increase in the number of CMCs approaching them, while 28% have never been approached.
Last week, Sesame blamed CMCs for a near-100% rise in the number of complaints against it being referred to the Financial Ombudsman Service (FOS).
It had the most complaints of any advisory business referred to the FOS in the second half of last year, totaling 140, up from 76 in H1.
Other advisory businesses listed included Openwork, Positive Solutions, St James’s Place, Personal Touch Financial Services, and AWD Chase de Vere.
Dev Malle, sales and marketing director at Personal Touch Financial Solutions (PTFS), said: “I think this is something brokers should be alerted to and be aware of.
“Some claims firms work on the basis of finding legal loopholes in products and policies and, while the consumer may be protected, they will almost get the consumer to engage in situations that they wouldn’t otherwise be concerned to be engaged in.
“Intermediaries should be aware of what they need to do, making sure their files are absolutely clear and compliant. Ultimately, that is what’s going to protect them.”
PTFS itself saw complaints against it referred to the Ombudsman rise to 47, driven, Malle said, by CMCs on a like-for-like basis.
He added: “Another concern to the market is that CMCs are encouraging customers to claim when they don’t have a legitimate claim or one which is not going to be satisfied.
“It’s overburdening the system and adding in costs that ultimately we are all going to pay for.”
