Aviva plc chief executive Mark Wilson is to step down from the company straightaway after just under six years with the business.

St James’s Place chair Sarah Bates has retired as chair and a director of the wealth manager, making way for former Yorkshire Building Society chief executive Iain Cornish to become the new chair.

National IFA network Tenet has acquired Preston-based Financial Planner and wealth manager Elementum for an undisclosed sum. 

STM, owner of UK SIPP provider London & Colonial, is to acquire the majority of rival SIPP firm Carey Pensions for £400,000 as Carey prepares to tackle a major court case.

The Financial Conduct Authority is to consult on new rules to reduce the potential harm to investors holding funds invested in illiquid assets - such as property - “under stressed market conditions.”

Punter Southall Aspire, the investment and workplace pensions business, has acquired JDP Financial Services, a firm of independent Chartered Financial Planners based in Bedford, for an undisclosed sum.

New research suggests that 20% of parents – 6.9m mums and dads – have transferred assets to their children early to mitigate inheritance tax.

Xafinity SIPP Services, part of the XPS Pensions Group plc, has reported robust growth with assets under administration hitting  £2bn but admits the SIPPs sector is on a “precipice.”

Schroders this morning confirmed it was in discussion with Lloyds Banking Group about a potential £13bn investment management joint venture.

A Yorkshire-based Chartered Financial Planner has gained Later Life Adviser Accreditation from the Society of Later Life Advisers (SOLLA).