The Bank of England today increased its base rate by 25 basis points from 4% to 4.25% - the highest level for 15 years.

The Financial Ombudsman Service’s complaint uphold rate dropped to 34% in the quarter between April and June, down from 37% in the second half of 2021.

IFA consolidator firm Radiant Financial Group has acquired Irvine Financial Services, Landmark Financial Planning and Andrew Gibbs IFA for undisclosed sums.

Sanlam Wealth has rebranded to Atomos following completion of its acquisition by Oaktree Capital Management.

Financial advisers with clients who have been pursued by HMRC over inheritance tax liabilities in relation to Employee Benefit Trust (EBT) scheme have been invited to join a group action tribunal appeal against the taxman.

Asset manager Abrdn has developed materials to help advisers prepare for the Financial Conduct Authority’s (FCA) new Consumer Duty rules.

Alex Burghart MP has been appointed as the new Pensions Minister, following the departure of long-serving predecessor Guy Opperman MP.

Inheritance tax (IHT) receipts for April to August rose 12% year on year to £2.9bn, according to new data this morning from HMRC.

The Financial Conduct Authority has issued Link Fund Solutions a draft Warning Notice with a proposed penalty of £50m over its handling of the LF Woodford Equity Income Fund.

Adviser platform Transact has added a Blackrock-run model portfolio service (MPS) to extend its choice of discretionary investment managers.