The FCA has approved the first Long Term Asset Fund (LTAF) with Schroders becoming the inaugural provider.

Wealth manager and Financial Planner Evelyn Partners suffered a near £5bn drop in Assets Under Management in 2022 as market turmoil hit figures, the firm’s full year results out today show.

Advisers are largely optimistic about the coming 12 months, according to new research.

Quilter will cut the cost of its Cirilium and Cirilium Blend portfolios at the end of March, with reductions taking effect from 31 March.

Financial product data provider Moneyfacts has rebranded its consumer website as Moneyfactscompare.co.uk to reinforce it as “the completely independent money comparison website.”

The Financial Conduct Authority has continued its crypto crackdown by using its powers to inspect several sites in East London suspected of hosting illegally-operating crypto ATMs.

St James’s Place CEO Andrew Croft is to receive a basic pay rise increase of nearly £30,000 per annum after his pay package fell last year when the firm suffered a drop in Funds Under Management.

Assets under management (AUM) at mutual provider Royal London shrank more than 10% from £164bn at the end of 2021 to £147bn last year.

Assets under management and administration (AUMA) at wealth manager Quilter fell 11% during 2022 to £99.6bn, from £111.8bn in 2021.

The financial management arm of Scottish law firm Gilson Gray has acquired Edinburgh-based bespoke practice Sarah Hughes Wealth Management for an undisclosed amount.