The sale of Close Brothers Asset Management (CBAM) to private equity firm Oaktree Capital Management for £200m has completed, with the new owner planning to create a leading, yet-to-be-named independent wealth manager.

A 46-year-old man, Olumide Osunkoya, has been jailed at Southwark Crown Court today for four years for running illegal crypto ATM activity said to be worth over £2.5m.

It’s a shame to admit it, but fear is clearly driving demand for Financial Planning advice in some quarters.

The news this week that the FCA has axed a requirement for the boards of regulated firms to have a dedicated Consumer Duty Champion - only introduced 18 months ago - was met with some raised eyebrows.

There was a distinct whiff of change in the regulatory air this week with the FCA rapidly jettisoning plans which would have seen more rules and regulations added to its handbook.

There is a major force reshaping pensions and it is unstoppable, it’s called demographics and it will require the pensions industry to rethink everything it does.

The FCA has charged award-winning IFA Kerry Nelson and fellow director Jacqueline Stephens, who both worked for Nexus IFA, in connection with a £2m fraud.

The Personal Finance Society (PFS), the professional body for Chartered Financial Planners, has appointed two experienced planners to its board.

The FCA confirmed this week that its requirement for regulated firms to have ‘Consumer Duty Champions’ has been axed.

Wealth manager St James’s Place has launched a £92.6m share buy-back scheme after announcing a return to profitability last year.