Profits have fallen in the investment management sector for the first time since 2009 after a turbulent fourth quarter.

Skandia believes 2012 will be the ‘defining year’ for platforms and wraps as changes are made ahead of RDR.

The Financial Ombudsman Service is gearing up for “unprecedented demand and volatility” as it expects to receive 285,000 complaints in the 2012/13 financial year.

The Financial Ombudsman Service is proposing to increase the number of free cases for smaller and medium financial businesses from three to 25.

PricewaterhouseCoopers has been fined £1.4m for mis-conduct over its audit of JP Morgan.

Two more firms have been recognised as Accredited Financial Planning Firms^TM by the Institute of Financial Planning.

Five key financial services firms have today published a report into adviser and consultancy charges.

The Financial Services Compensation Scheme has announced customers of MF Global are to receive their claim forms ‘imminently’.

Alliance Trust has appointed Karin Forseke , deputy chairman of the Financial Services Authority, as its new non-executive chairman.

IFP member Jason Butler CFP^CM has written a new book as a guide to wealth management.