Perhaps not surprisingly the Association of British Insurers has concluded, after carrying out an advice experiment, that personalised guidance really can work.

Boundaries are essential for all sorts of good reasons. They make things clear to everyone involved what’s the right side of the line and what’s not. Blurred lines are best avoided.

The Financial Services Compensation Scheme, the government-backed body which compensates clients of failed regulated firms, has confirmed that it declared six financial services in default over the past two months.

Financial advice firms Holborn Assets Ltd (FRN 648817) and BSPS-linked Inspirational Financial Management Ltd (FRN223511) are both under investigation by the FSCS after going into administration in recent weeks.