The number of complains to the Financial Services Ombudsman increased by 14 per cent last year to 3,800.
Detailing the type of cases dealt with last year, Ombudsman Joe Meade said he had started legal action against a mortgage broker concerning a conflict of interest in a property sale.
Mr Meade said compensation of €40,000 had been secured against a stockbroker for mismanaging of a portfolio and that a €140,000 settlement was secured following an error by an insurance broker.
Of the complaints, 2,229 related to insurance and 1,566 to credit institutions.
A credit union that did not respect elderly person's instructions had a settlement of €24,000 awarded against them.
Mr Meade's office has a statutory complaints resolution mechanism for complaints against financial service providers. The Financial Services Ombudsman was established on a statutory basis on April 1st, 2005.
Details of significant decisions made by the Ombudsman in the July-December 2006 period are on the agency's website: http://www.financialombudsman.ie/case-studies/