A third of Financial Planners have reported an increase in demand for pension consolidation advice over the past year, according to a new report.

The Financial Services Compensation Scheme has told clients of failed SIPP provider Forthplus Pensions to bring claims against their financial advisers.

The Financial Services Compensation Scheme has declared a Nottingham-based wealth manager in default amid a flood of claims, many relating to SIPPs transfers.

XPS Pensions Group, the actuarial, consulting and admin business, is to acquire the business and key assets of Manchester-based SIPP and SSAS provider Michael J Field Consulting Actuaries for £3.75m.