The FCA has revealed a new initiative aimed at tackling ‘phoenixing.’

The PFS has called for action to address what it called the “biggest savings gap since records began.”

PIMFA, which represents around 1,000 UK wealth managers and financial advisers, has called for an “urgent review” of the FSCS following yesterday’s announcement of an interim levy.

Quilter Private Client Advisers has snapped up three more Financial Planning firms, as it continues its expansion.

The London-based Chartered Institute for Securities & Investment has partnered with Saudi Arabia’s oldest national university, King Faisal University, to offer a range of international qualifications aimed at encouraging more students to enter the financial services professions.

Adviser network operator Sesame Bankhall Group (SBG) has announced a raft of changes to its senior management.

The firm described the restructure as “a further step in its evolution with new roles and a new appointment to its executive team, as part of the Group’s commitment to invest in its advisory brands in what is widely acknowledged to be a rapidly changing market.”
 
The changes will see Martin Schultheiss move from chief operating officer position to take up a new expanded role as group managing director.

Mr Schultheiss will report into into SBG executive chairman John Cowan.

His wider remit now includes the group’s finance, sales and account management functions, alongside his existing group-wide responsibilities.

Ross Liston will join the SBG as managing director of Bankhall and PMS and reporting into Mr Schultheiss.

He will have responsibility for “driving forward the firm’s relationships with directly authorised firms” across its PMS Mortgage Club and professional support service provider, Bankhall.

Mr Liston has 25 years’ experience in senior financial advice and business development roles, most recently as head of advisory relationships at Standard Life.

His previous roles at Standard Life include head of strategic partnerships and head of advisory distribution (now branded as 1825).

He has experience across pensions, investments, platforms, mortgages and protection, along with expertise in merger, acquisition and integration activity.

SBG has also created a new role – managing director, Sesame – with responsibility for “driving forward” the adviser network and developing support for existing network members.

The firm said an announcement regarding this new appointment “will be made in due course.”
 
Other changes and updates to SBG’s executive team announced today include:

• Julie Sadler, who previously held the dual roles of chief risk officer at SBG and managing director, Bankhall, will become group risk & compliance director.

• Jim Kelly moves from chief finance officer to group finance director.

• HR & learning director, Lisa Winnard, continues as group people & services director, with a wider remit that now includes the group’s operations and adviser helpdesk support, along with marketing and business development.  
 
John Cowan, executive chairman at SBG, said: “Today marks a further step in SBG’s evolution.

“In a rapidly changing market, which is alive with opportunities for advisers, we will ensure that our advisory brands are strongly positioned to assist them.

“To help achieve this we want to maximise the expertise and talent that exists across our group, and these latest changes will enable us to do just that.

“Martin has injected new energy into our plans following his arrival in January, and Ross is another excellent addition to our leadership team.

“Through PMS and Bankhall we already serve 4,000 directly authorised firms, and we have seen steady growth throughout this year as discerning firms seek out quality support that is tailored to their needs.

“We also intend to further bolster our adviser facing business by recruiting a managing director for our Sesame Network.”

An extra £69m Financial Services Compensation Scheme (FSCS) bill will have to be footed by the retail pool as a result of pension transfer-related claims.

Wealth manager and Financial Planner Brewin Dolphin increased Financial Planning income by 17.8%, the firm’s latest figures have revealed.

Nearly one in three adults would rather get financial advice from friends and family than a professional financial adviser, according to new research by a financial advisory business.

UK Financial Planning and investment management firm Tilney has appointed a new investment director.