Financial advice firms have welcomed the FCA’s proposal to remove the annual review requirement for advisers providing ongoing pensions and investment services.

The Financial Conduct Authority is consulting on removing the annual client review requirement for financial advisers who provide ongoing pensions and investment services.

Quilter has reported an IFRS profit after tax of £120m for 2025, following a loss of £34m in 2025.

Wealth manager and plaform operator Quilter has allocated £76m in funds for an ‘ongoing advice review’ and may ask some advisers to pay back if clients have paid for ongoing advice which has not been delivered, it revealed today in its annual results.