Nearly 500 financial advisers aged 24 up to 69 were due to receive their graduation certificates in London today in a graduation ceremony the PFS said reflected the changing composition of the financial advice profession.

The Financial Conduct Authority has fined leading City broker Tullett Prebon (Europe) Limited £15.4m for failing to conduct its business with “due skill, care and diligence.”

Expanding wealth manager The Private Office (TPO) has acquired John Lamb Wealth Management, a well known firm of Chartered Financial Planners in London.

XPS Pensions, the pensions administrator, says that 35% of pension schemes have appointed or are considering appointing an IFA to support members.

The majority (84%) of financial advisers questioned in a survey believe Individual Savings Accounts (ISAs) have become “too complicated.”

The Chartered Institute for Securities & Investment has established a new mental health support portal to encourage more people working in financial services to talk about mental health issues and get help if they need it.

The Financial Services Compensation Scheme (FSCS) is drawing up plans to help eligible customers of Reyker Securities, which went into special administration on Tuesday.

Reyker Securities, a firm which offered structured investments and a DFM service, has slumped into administration.

Global investment manager Orbis Investments has revealed that its OEIC Global Equity fund and the Orbis OEIC Global Balanced fund have now been added to the Standard Life Wrap platform. 

Financial adviser firm Chase de Vere has hired ex-Scottish Widows and Prudential manager Darren Fletcher to be senior manager in its Birmingham office.