The board of fund manager M&G has launched a hunt for a new chief executive to replace long-serving John Foley who plans to retire.

Over 23,000 new and returning equity release customers cashed in on property wealth via equity release between January and March this year.

Multi-employer master trust pension fund National Pension Trust (NPT) is to move its default investment to an ESG guided strategy this month.

Inheritance tax receipts for April 2021 to March 2022 were £6.1bn, a rise of £0.7bn year-on-year, according to the latest figures from HMRC.

The FCA has barred a financial adviser indefinitely from carrying out regulated activities after 13 complaints to the Financial Ombudsman Scheme (FOS).

Acquisitive Financial Planning group Perspective Financial Group has acquired Cambridgeshire-based Ramsey Financial for an undisclosed sum.

Investment manager Jupiter has reported £1.9bn of net outflows from retail investors in the first quarter of the year.

M&G’s Financial Planning arm M&G Wealth has added a new range of six model portfolios focused on investing globally and incorporating ESG factors in its investment process.

Hybrid advice start-up Aventur - founded by a former SJP partner and an ex-Fairstone IFA - has acquired South Woodford-based IFA JPSL Financial Services for an undisclosed sum.

The Philips Trust Corporation Limited - which administered 2,400 trusts - has gone into administration.