Almost 8 in 10 (78%) of wealth clients want direct contact with an individual that can support them when it comes to managing their money, according to a new report.

Sheldon Mills, the FCA’s executive director of competition and consumers, today warned Financial Planning and other financial firms that haven’t taken action that the Consumer Duty “will not go away”.

Investment platform and SIPP provider AJ Bell has reported pre-tax profit up a modest 6% year on year to £58.4m for the year ended 30 September.

The Financial Conduct Authority has fined Barclays Bank UK PLC, Barclays Bank PLC and Clydesdale Financial Services Limited (Barclays) £26m for poor treatment of consumer credit customers in financial difficulties.