Private equity-backed wealth manager MKC Wealth has acquired four independent financial advice firms for undisclosed sums.

Wealth manager Brooks Macdonald has today reported outflows of £49m in the quarter ended 30 September.

London dominates the UK regions where households are least likely to be on track for an adequate retirement income, according to new research.

Jupiter Fund Management saw net inflows of £0.3bn in the third quarter, as the asset manager entered recovery following large outflows last year.

L&G is to launch an AI-powered customer service platform for its workplace savings, retail protection policy and annuities customers in a move which is claims will help advisers deliver better outcomes to their clients.

The Information Commissioner’s Office (ICO), the data regulator, has fined outsourcing business Capita £14m for failing to protect the security of 6.6m pension savers’ records.

The FCA has secured $101m (approx £76m) in compensation to UK and other non-US investors in a fund sub-managed by hedge fund firm BlueCrest Capital Management (UK) LLP (BlueCrest) and also imposed a public censure on the company. 

North East-based Chartered Financial Planning-focused adviser firm Fairstone has reported revenue and pro forma income grew 21% over the past year to £168m.

AJ Bell Investcentre, AJ Bell’s adviser arm, has launched an integration conduit with Financial Planning software provider Dynamic Planner.

The Financial Conduct Authority has today published plans to support asset tokenisation to “drive innovation and growth in asset management.”