A complaints investigation and handling service for financial advisers has been launched.

Leeds based firm AHK said complaints were on the rise and smaller Financial Planning and advice firms had a lack of affordable options to help them manage claims against them.

The aim of the service, the company said, is to help minimise the risks advisers face and to assist them with meeting increased regulatory demands.

The company will take on cases relating to the Financial Ombudsmen Service and independent investigations. The service should reduce the number of 'unnecessary' FOS referrals, the firm said.

Directors Derek Humphrey and Alexei Abbott have over 40 years' experience in financial services between them.

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Mr Humphrey said: "Complaints against IFAs have risen in recent years and organisations have found it challenging to ensure they are investigated fairly and swiftly. With volumes expected to remain high in 2015, many firms will struggle to demonstrate FCA compliance while handling complaints.

"The SME segment of the financial adviser community is under-served in terms of practical and affordable solutions, with the regulatory burden often more acutely felt by smaller, owner-managed firms. Many in-house teams simply do not have the resource to investigate the rising number of complaints in a timely fashion."

Director Alexei Abbott said: "We're delighted to launch AHK as we feel that we have identified a gap in the market. Our independence and impartiality will provide credibility and comfort to IFAs and their customers. Our service should also reduce the number of unnecessary FOS referrals."

Kennedys Law LLP will support AHK with partners Sarah Cornish and Andrew Caplan forming part of the management team.

Professional indemnity partner Sarah Cornish said: "Kennedys' core market is insurance so this service offering aligns well to our insurer client base. The complaint handling service helps minimise the risks IFAs face and assists them with meeting increased regulatory demands. This in turn, will help improve the claims experience for their insurers."