Almost £10bn was transferred out of defined benefit pensions in the final quarter of 2019, according to official data.

Keith Skeoch is to step down from the board of Standard Life Aberdeen after five years as group chief executive and fourteen years as a director.

Financial Planning Group Truinvest made its first two acquisitions since its formation last year and said that more acquisitions are to follow. 

Wealth manager Charles Stanley has appointed former Brown Shipley chief executive Ian Sackfield as managing director, investment management services (branches) to lead the firm’s 20 regional offices.

Chartered Financial Planner Telford Mann is planning to recruit seven more staff this year as it steps up recruitment.

Industry veteran Bambos Hambi has been appointed chief executive of Quilter’s multi-asset investment business Quilter Investors.

Channel Island-based investment services group Ravenscroft, which has £7.45bn in Assets Under Management, has bought the Isle of Man subsidiary of WH Ireland.

Smith & Williamson has made 22 senior promotions as it prepares for its £44bn merger with Tilney set to create one of the UK’s biggest wealth management and Financial Planning firms.

National IFA firm Chase de Vere has reported increased turnover and higher pre-tax profit for the year ending 31 December 2019.

Pension group XPS has reported flat profits for the 12 months ending 31 March at £11.4m but remains positive about the year ahead.