Johannesburg - The ombud for financial advisory and intermediary services (Fais) has dismissed a complaint by a human resources practitioner that a financial adviser placed his funds into a retirement annuity without his permission.

Fais Ombud Noluntu Bam said in a determination published yesterday that it would be appropriate for the complaint to be dealt with by a court. She added that in the light of the evidence before her, it would be inappropriate and possibly unfair for her to make any finding about the conduct of Pinnacle Brokers in Rustenburg.