Openwork’s Mike Morrow and Investec’s Ciaran Whelan have joined the board of wealth manager trade body PIMFA.

Wealth manager trade body PIMFA has called for radical reform of the advice sector to reach more consumers.

Wealth manager trade body PIMFA has attacked the FSCS forecast today of a £1bn compensation levy as a “scandal” which points to regulation failing consumers and firms.

PIMFA has called on the Government and the Financial Conduct Authority (FCA) to urgently reform the supervision of financial advice and consumer compensation through the Financial Services Compensation Scheme (FSCS).