The Personal Finance Society has welcomed the FCA’s adviser sector study published yesterday showing rising financial adviser numbers but warned there are still too few advisers to meet demand and soaring PI insurance costs are hitting the profession.

Private equity firm Aquiline Capital Partners and fintech Allfunds have pulled out of the bidding race for adviser platform Nucleus.

Financial adviser network and wealth manager Tavistock Investments has postponed a general meeting planned to approve a boost to the earnings of senior executives.

Platform technology provider Seccl has launched a drawdown illustration tool to help Financial Planners support clients through their retirement income planning.

Wealth manager Quilter has warned that consumers remain stubbornly wary of financial technology despite yesterday's FCA review of the advice sector suggesting that robo-advice could play a key role in closing the advice gap.

Independent Wealth Planners UK (IWP) has acquired Financial Planning firm Donald Wealth Management in its tenth deal of 2020, for an undisclosed sum.

Financial adviser numbers have risen by 1,400 (4%) since the Retail Distribution Review (RDR) and the Financial Advice Market Review (FAMR), ending years of decline.

António Horta-Osório, group CEO and director of the Lloyds Banking Group, will step down in April after being proposed for election as the chairman of the board of Credit Suisse.

UK investors prioritised diversification as global equity and global bonds became the two top best-selling sectors in October 2020, according to the latest figures from the Investment Association.

New Model Business Academy, the adviser academy run by SimplyBiz, has been criticised by education inspector Ofsted for a second year after it was found to be “making insufficient progress” from its previous inspection.