The UK economy unexpectedly contracted in May, marking the second month in a row of falling output, with GDP down 0.1% after a 0.3% fall in April.

A total of 43 FCA staff were paid more than £200,000 each last year, analysis of the regulator’s annual report by Financial Planning Today has revealed.

The sheer scale of the financial scams and cons facing the UK came home to me this week with the publication of the FCA’s latest report on the many suspect financial promotions it had tackled over the past year.

Less than half, 48%, of mid-retirees aged 65-75 who do not pay for financial advice are confident they are on track to make their pension savings last for life.

The FCA suspended, removed or blocked more than 1,600 websites last year where it suspected them of promoting financial services products and services without permission.

The Financial Conduct Authority it to review its client categorisation rules to ‘unlock more opportunities for wealthy investors’.

Financial Planning community NextGen is to rebrand to Plannex to better reflect its membership and what it offers.

Net outflows rose 22% for Liontrust Asset Management in the three months ended 30 June (Q2 2024: £0.9bn).

Wealth manager Brooks Macdonald saw £5m of net outflows in the quarter ending 30 June, a 96% fall from the £129m reported the previous quarter and its lowest outflows for two years.

Jupiter Fund Management is to acquire specialist asset manager CCLA Investment Management for £100m.