The Financial Conduct Authority has banned Mark Kelly and Patrick Gray from working in the financial services industry on the basis that they lack integrity after £24m of client money was invested in ‘unsuitable investments’, it said today.

Old Mutual Wealth appoints new head of Financial Adviser School in revamp

Darren Smith has today been appointed head of the Financial Adviser School (FAS) as part of a move to set a clearer direction for the not-for-profit organisation which was acquired by Old Mutual in February.

The Chartered Insurance Institute and its PFS arm have voiced support for free, impartial public financial guidance in response to Treasury proposals - but say the new body must have a statutory duty to 'champion' the benefits of professional financial advice.

The next Paraplanner PowWow - the ‘unconference’ for Paraplanners - is taking place in under two weeks in London.

Succession has secured an investment package of over £25 million from HSBC and its existing shareholders (including Inflexion Private Equity) to continue its growth strategy.

Members of the British Bankers Association - the BBA - have voted to merge with three other bodies to form a new trade association for the finance sector which aims to improve trust in financial services.



The CISI has hailed last week’s Financial Planning Week consumer campaign as “highly successful” as thousands joined in and one podcast had 1m listeners.

Tracey McDermott, the FCA’s acting chief executive, says she is “please and proud” to have been made a CBE in the Queen’s Birthday Honours List.

A major global investment survey of millennials (generally seen as those aged 16-36) around the world has found that they have high investment return expectations but are conservative in their approach and considerably “short-term minded.”

A report on global financial services organisations has found slow progress for women leaders and at the current rate female representation at executive committee level will only hit 30% in 2048.