St James's Place, one of the UK’s largest wealth managers, suffered a 21% drop in its share price at one point today after announcing a review of its much-criticised fees and charges.

IBOSS, the investment management arm of Financial Planner and wealth manager Kingswood Group, is to cut the Ongoing Charges Figure (OCF) on all 32 of its DFM MPS portfolios.

Quilter is cutting platform charges for new customers from June and existing customers in Q3 - and introducing tiered adviser charging.

The FCA has begun criminal proceedings against four individuals allegedly involved in a £1.4m investment fraud involving a number of firms, including two ‘cloned’ firms.