The Financial Services Compensation Scheme has declared BSPS-linked adviser firm Mark Peter Houlbrook (FRN: 498168) in default over pension transfer advice, opening the door to compensation for ex-clients with valid claims.

New quarterly data today from the Financial Ombudsman Service has revealed a 70% jump in financial complaints, with nearly half of all complaints from professional representatives including claims management companies (CMCs).

The number of defined benefit pension transfers in July surged to the highest level since August 2023.

An increasing number of families are being caught out by unexpected inheritance tax bills on gifts made less than seven years before death.

The Financial Conduct Authority said today it will launch a market study of the ‘pure protection’ market including term assurance products and critical illness cover.

Expanding Financial Planner and wealth manager Fairstone has appointed former Abrdn MD Russell Bignall as its new group managing director.

International Financial Planner Hoxton Capital Management has rebranded to Hoxton Wealth.

The former chief executive of Barclays Wealth during the 2008 financial crisis has been banned from performing senior manager functions.

Mutual insurer Royal London has rebranded the Responsible Lending equity release business it acquired earlier in the year as Royal London Equity Release.

Two thirds (68%) of UK adults believe it’s important they leave an inheritance, but mortgage and rental costs are hitting their hopes of handing down a legacy.