The Financial Services Compensation Scheme has declared 12 firms in default, including a number of financial advisers and wealth managers.

Under a third of pensions professionals believe pension dashboards will be of use by 2025.

Independent Wealth Planners (IWP) has acquired Acuity Wealth Management and founded a virtual advice service.

Legal & General will merge its retail insurance and pensions divisions from the start of next year.

Assets under management jumped from £98bn to £111.4bn at Schroders JV & associates in the three months to 30 September.

A leading Chartered Financial Planner has called on the Financial Conduct Authority (FCA) to redefine risk classifications to reflect current conditions.

The FCA has banned financial adviser Omar Hussein and fined him £116,000 for “reckless and unsuitable” pension transfer advice.

The Personal Finance Society board has voiced criticism of its parent body, the Chartered Insurance Institute, as a review of both bodies’ future strategies gets under way.

SIPP provider Dentons Pensions has reported a 55% rise in new SIPPs business pushing its total number of schemes above 7,800.

The FCA is hunting for a new chairman to replace Charles Randell who will step down in the Spring, a year earlier than planned.