Transact chief executive Ian Taylor is to step down as CEO in March after 20 years with the group and will be replaced by two new CEOs.

The FCA has launched a Call for Input (CfI) on the opportunities - and risks - that could be created by introducing an ‘Open Finance’ framework in financial services.

Expanding Chartered Financial Planner firm Fairstone has acquired nearby North East wealth manager Chilli Financial.

The Financial Conduct Authority has fined Professional Personal Claims Limited (PPC) £70,000 for “misleading consumers” through its websites and printed materials.

Waverton Investment Management has acquired London-based Financial Planning and investment advisory business Timothy James & Partners for an undisclosed sum.

The Financial Services Compensation Scheme has warned that there is a ‘high risk’ of a supplementary £46m levy on advisers and providers.

The most important service offered by financial advisers to clients is helping them achieve their financial goals, say advisers.

The steady dismantling of the Woodford empire has continued with the Woodford Patient Capital Trust, one of the firm’s best known investment vehicles, being renamed the Schroder UK Public Private Trust and management transferred to Schroders.

Wealth manager Kingswood has added two new board directors following an £80m private equity-led investment expected to spur ambitious expansion plans.

National wealth manager and Financial Planner Tilney has boosted its London Financial Planning team with a new appointment.