The High Court has sentenced a man involved in four Unauthorised Collective Investment Schemes (UCIS) which lost investors £15m to six months in prison after he diverted assets which could have been used to repay investors.

The new single financial guidance body, which will bring together three consumer advice organisations, is to be called the Money and Pensions Service (MAPS).

John Glen MP, Economic Secretary to the Treasury, has appointed consumer champion Richard Lloyd to the FCA board among a number of board appointments announced today.

Xafinity SIPP and SSAS has cut fees on its SimplySIPP product and upgraded technology for advisers.

Aviva has promoted its international insurance head Maurice Tulloch to be its new Aviva plc chief executive from today (4 March) after a six month hunt.

Fairstone, which describes itself as one of the UK’s largest Chartered Financial Planning firms, has acquired Pensions and Wealth Management Services, adding 400 clients and £200m FUM.

Standard Life Aberdeen’s Financial Planning arm 1825 has acquired the wealth management arm of BDO Northern Ireland.

Fund manager Jupiter today reported a slump in pre-tax profits of £13.7m to £179.2m as assets under management dropped by 15% to £42.7bn and the firm was hit by net outflows of £4.6bn.

AFH Financial Group, the wealth management and Financial Planning group led by Chartered Financial Planner Alan Hudson, is to reveal ambitious plans today to nearly triple revenues over the next three to five years to £140m as it strives to become the leading UK ‘Financial Planning-led’ wealth manager.

More than one in three regular savers has avoided investing because there are too many funds to choose from, they say.