The FCA’s thematic review - which investigated how firms were providing retirement income advice - has demonstrated the value of a good Financial Planner, according to financial professionals.

The Financial Conduct Authority has today written to the chief executives of financial advice firms asking them to review their retirement income advice processes. 

The FCA has set out its business plan for 2024/25, promising to continue to focus on preventing serious harm to consumers, setting higher standards and promoting competition.

The FCA has provisionally fined Nailesh Teraiya, formerly sole controller and chief executive of Indigo Global Partners Limited (Indigo), £5.95m and has provisionally banned him from carrying out any regulated activity after finding him guilty of making fake trades.