Investment manager and Financial Planning group Abrdn has begun the search for a new CEO after Stephen Bird decided to step down after four years at the helm.

The FCA has cancelled the permissions and withdrawn the authorisation of London-based financial advice firm Elan Financial Group Ltd (FRN: 48971).

Financial Planners are currently unconcerned about any shorter-term impacts hitting clients following the announcement of a UK General Election to be held on 4 July.

The Financial Ombudsman Service has set out proposed fees for Claims Management Companies (CMCs) and other 'professional representatives', following the introduction of legislation in parliament.

The Financial Services Compensation Scheme (FSCS) has reduced its annual levy on the industry for 2024/25 to £265m.

The FCA has fined HSBC Bank plc, HSBC UK Bank plc, and Marks and Spencer Financial Services plc (HSBC) £6.28m for failures in its treatment of customers who were experiencing financial difficulties.

Investment platform AJ Bell has reported a 47% increase in pre-tax profit £61.4m for its first half of 2024 which ended on 31 March (HY23: £41.9m).

Nine in 10 financial advisers expect increased speed and operational efficiency from the use of AI, according to a new report.

Investment platform Hargreaves Lansdown (HL) has rejected a £5bn takeover bid from a private equity consortium.

HSBC Life (UK) has opened up its Onshore Investment Bond to UK corporate investors following demand from advisers.