A culture of risk aversion among financial regulators undermines financial firms’ competitiveness and growth, the Financial Services Regulation Committee said.

A fifth, 20%, of people don’t know what type of pension they have, despite more than half, 53%, of Brits claiming to be knowledgable about pensions.

The Pensions and Lifetime Savings Association (PLSA) said it supports the introduction of the Pension Schemes Bill.

Four in five investors, 80%, are somewhat or significantly more likely to increase their use of actively managed investment strategies in the year ahead, according to the latest Schroders' Global Investor Insights Survey.

High-net-worth (HNW) millennials are more likely to turn to social media and finfluencers for investment guidance when they inherit (27%), than to financial advisers (18%).

Cambrian Associates Ltd (FRN 158976), an adviser firm based in North Wales, has gone into administration 51 years after being set up.

Wealth manager Brooks Macdonald has appointed Josh Lewsey as group strategy and corporate development officer.

Northumberland-based accountancy firm Greaves West and Ayre (GWA) has promoted one of its Financial Planners to become a partner of the firm.

Some financial advice firms are not adequately collecting and recording client information when offering retirement income advice, according to the FCA.

Welsh Financial Planning firm Nine Wealth Management has gained the Chartered Institute for Securities and Investment’s Chartered Firm status.