Net inflows have dropped 31% year-on year to £2bn (Q1 2022: £2.91bn) for wealth manager St James’s Place in the first quarter of 2023, according to a trading update issued this morning.

Administrators have given more details on the failure of major SIPP provider and fintech Gaudi which went into administration yesterday.

Sipp provider and fintech Gaudi Regulated Services has gone into administration on the same day the firm sold its pension business book to platform provider Platform One.

Pension transfer activity in March dipped to its lowest level since September in 2022.

Wealth manager and Financial Planner Evelyn Partners has reported a record £1.7bn of gross new money in Q1.

Platform One has agreed to acquire fintech Gaudi and take over the £1bn-plus SIPP assets currently administered by the firm.

Fife-based RS Robertson Financial Planning has been acquired by Gilson Gray Financial Management, the financial services arm of law firm Gilson Gray.

Nichola Pease has stepped down as chair of fund manager Jupiter with immediate effect.

Wealth manager JM Finn is sponsoring an all-female rowing team taking part in an Atlantic crossing challenge - with one of their own investment managers, Laura Langton, taking part.

The FCA has issued a warning today about the potential mismanagement of 'asset protection' trust schemes.