Wealth management trade body PIMFA has urged MPs to consider a Treasury-run compensation package for British Steel Pension Scheme victims similar to the one used for London Capital & Finance mini-bond investors.

Wealth manager St James's Place today reported record first quarter net inflows of £2.91bn (£2.90bn in Q1 202) and strong annual growth in funds under management of £151.25bn (up £15.79bn on Q1 2021).

The Financial Conduct Authority (FCA) is getting better at timely consumer interventions, chief executive Nikhil Rathi has told MPs during their probe into the British Steel Pensions Scheme (BSPS) scandal.

The Chartered Insurance Institute has hired Alan Vallance, currently CEO of the Royal Institute of British Architects (RIBA), as its new CEO.

Private equity-backed Brighton-based Chartered Financial Planning firm Skerritts has acquired Kent-based Geoffrey Craig Limited and East Sussex-based Saffron Wealth Management.

Yorkshire-based Briggs Murray Financial Planning & Wealth Management and Newcastle-based Whitebridge Financial Planning have been declared in default by the Financial Services Compensation Scheme.

Private equity firm Anacap-owned platforms Novia and Wealthtime are to be combined under the Wealthtime brand in the second half of this year.

The Financial Conduct Authority has ruled out allowing access to bodies such as the Financial Services Compensation Scheme for crypto currency investors, even if they have received advice.

The board of fund manager M&G has launched a hunt for a new chief executive to replace long-serving John Foley who plans to retire.

Over 23,000 new and returning equity release customers cashed in on property wealth via equity release between January and March this year.