The FCA has fined Pembrokeshire Mortgage Centre Limited (trading as County Financial Consultants) £2,354,331 for providing "woeful" and unsuitable advice to consumers to transfer out of the British Steel Pension Scheme (BSPS) and other defined benefit (DB) pension schemes.

FCA CEO Nikhil Rathi says the FCA will apply "additional scrutiny" to authorisation applications from appointed representatives, approved persons and payment agents.

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 FCA is to push ahead immediately with plans to warn pension savers of the corrosive effect of inflation on cash savings.

Financial Planner Tavistock has sold its hybrid digital app business LEBC Hummingbird back to a wholly-owned subsidiary of original owner LEBC Holdings Limited for £3m.

Fast-growing Financial Planner and wealth manager Kingswood has acquired JFP Holdings Limited, the parent company of Cheshire Chartered Financial Planner JFP Financial Services Limited.

Adviser fintech Wealth Wizards has appointed Ben Hampton as its new chief executive.

The Financial Conduct Authority has fined investment adviser and wealth manager Julius Baer International Limited (JBI) £18m for failing to conduct its business with integrity, failing to take reasonable care to organise and control its affairs and failing to be open and cooperative with the FCA.

The exodus of pension trustees is set to gather pace with the number planning to step down within a year up by a third.

The FCA is set to open the door to regulated 'simplified' financial advice to make advice cheaper and more accessible.