Investment management and Financial Planning group Rathbones has increased funds under management and administration (FUMA) by 25%, according to the first trading update since the completion of its acquisition of Saunderson House.

The Financial Conduct Authority is to launch two market studies to investigate access and competition in the wholesale data market.

In 2020/21 61.3% of pension pots over £50,000 cashed in were withdrawn without financial advice, a rise from the 58.9% seen the previous year.

More adviser firms are buying investment companies via adviser platforms than ever before with an 18% rise in purchases year-on-year last year.

Increased consolidation among Financial Planning firms could create a more sustainable profession, according to a number of Financial Planners.

VitalityInvest, the investment arm of Vitality, has introduced a 0.15% annual product charge with a charge cap on amounts invested above £200,000.

Financial advice firm Frenkel Topping has acquired Cardinal Management which provides support and advice services to NHS major trauma centres.

Financial Planners have told Financial Planning Today that they expect a rise in wealth management and financial advice M&A deals this year.

Median household net wealth held steady for the period April 2018 to March 2020 at £302,000, according to the latest figures from the Office for National Statistics.

Financial Planning and investment group Tavistock Investments has acquired a 21% stake in retirement-focused financial adviser LEBC from the founder's widow for £10m.