With so many other challenges facing the wealth management sector, from legacy technology to developing compelling products and services, why are firms turning their attention to complaints?, writes Kate Monserrate, co-founder of advice and wealth management business consultancy Simplify Consulting.

Acquisitive South Coast-based wealth manager and financial adviser Skerritts has acquired £400m AUM Surrey Financial Planning firm KMG Independent Limited - and its sister firm KMG Investment Management Limited - for an undisclosed sum.

Fintech and back office system provider Iress has promoted Alistair Morgan to a newly-created role of executive managing director - UK.

As expected, Rachel Reeves has been appointed Chancellor of the Exchequer in Sir Keir Starmer’s first cabinet, announced after last week's election.

Adviser-focused platform Wealthtime (formerly Novia) has cut the amount of possible client compensation it has set aside over legacy assets to £10.5m.

The FCA has warned firms with overseas appointed representatives (OARs) that they need to carry out greater supervision.

Leading industry pensions and advice sector experts have welcomed Labour’s victory as a chance to push forward some key financial reforms but some have raised questions about the clarity of Labour's pension and advice priorities.

Financial provider Aegon, which has a growing Financial Planning arm, has urged the incoming Labour government to press ahead with a pledge to set up an independent Pensions and Savings Commission and to do this within the first 100 days of taking office.

David Lawrence, the CEO of fast growing wealth manager and Financial Planner Kingswood Holdings, has quit.

UK market indices rose strongly this morning after news of the landslide Labour Party election victory - widely expected - was absorbed by analysts.