A new Pensions Minister has been appointed after previous incumbent Laura Trott MP was promoted to be Chief Secretary to the Treasury in today's Cabinet reshuffle.

Wealth consultancy NextWealth has predicted a "seismic shift" in advice firm structures over next five years with the fee earner to non-fee earner ratio moving from 1:1 to 4:1.

London Fintech firm Ammonite - founded by two former Chartered Financial Advisers - has won a £250,000 investment from Industrial Thought, a group focused on the advancement of wealth management.

The Personal Finance Society and parent body the Chartered Insurance Institute have recognised their top examinees and apprentices in a special awards presentation ceremony held in the City of London.

BSPS-linked advice firm DC Financial Limited (FRN: 170299) has been declared as failed by the Financial Services Compensation Scheme.

The CISI Future Foundation charity has given grants worth a total of £465,000 to seven UK financial literacy charities.

Expanding national advice firm Foster Denovo has acquired £110m AUM Creative Financial Solutions based in Hampshire for an undisclosed sum.

Wealth manager Canaccord Genuity is to acquire Glasgow-based £220m AUM Financial Planner Intelligent Capital.

North East-based national Financial Planning firm Fairstone has announced a deal to acquire £120m AUM Kings Lynn-based Chartered Financial Planning firm Allen Tomas & Co.

Over two thirds (69%) of investors would be comfortable with AI being used in the investment advice process, according to a new report.