The Financial Services Authority has fined a financial adviser in Scotland £60,000 for advising clients to invest in unsuitable products.

The number of families putting aside monthly savings has risen to 76 per cent in 2012 - despite a rising cost in living, according to Aviva.

Skandia has today launched its adviser charging process for Financial Planners using its Skandia Investment Solutions platform.

The Institute of Financial Planning has elected Rebecca Taylor FIFP CFP^CM as vice president of its board.

The Financial Services Authority has reduced its annual funding requirement for 2012/13 from £578.4m to £559.8m.

Research by HMRC has found that there is low engagement between consumers and their taxes with just 10 per cent knowing the exact amount of tax they paid.

The Institute of Financial Planning has found only 35 per cent of Paraplanners intend to progress to becoming Financial Planners.

Joe Garner has been appointed by the Financial Services Authority as the new chairman of the Financial Services Practitioner Panel.

Institute of Financial Planning sponsor Prudential has appointed Paul Manduca as its new chairman, replacing Harvey McGrath who will step down on 2 July.

Changes to the personal tax system - combined with falling inflation - will give average earners £482 extra this year, according to Ernst & Young.