The Financial Conduct Authority (FCA) has revealed it received 6.02 million complaints between 1 July to 31 December.
In H1 2019, there were 4.29 million complaints filed with the regulator.
The majority related to payment protection insurance (PPI). When excluded from the overall number, there were 2.31 million complaints lodged with the FCA in H2, an increase from the 2.17 million in the first half of the year.
But the average compensation fell to £184 in the second half, compared with £200 ($251, €229) in the first six months of 2019, the watchdog said.
| Product | Complaints in H2 2019 | Complaints in H1 2019 |
| Annuities | 8,548 | 6,443 |
| Discretionary management services | 1,755 | 1,589 |
| Drawdown | 4,125 | 4,841 |
| Equity Release | 2,028 | 1,662 |
| Investment bonds | 10,129 | 8,964 |
| Investment trusts | 480 | 784 |
| Isas (investment held) | 17,696 | 19,104 |
| Medical/health insurance | 56,432 | 56,935 |
| Non-discretionary management services | 1,086 | 1,196 |
| Non-workplace pensions | 33,271 | 37,331 |
| Platforms | 7,071 | 9,684 |
| Savings (non Isas) | 71,048 | 74,574 |
| Whole of life/term assurance/critical illness | 34,486 | 36,038 |
Source: Financial Conduct Authority
