Adviser support services provider Adviser Services Holdings Limited's Sense and Lyncombe networks have passed the 400 adviser mark with over £5bn in assets under influence.

Advice network Adviser Services Holdings Limited has established an investment arm called Rockhold Investments.

Wealth manager Harwood has placed a subsidiary, appointed rep adviser firm Network Direct, into voluntary administration due to “weak investment markets” and rising Professional Indemnity insurance costs.

The Sense IFA Network has been sold to new owners for £9.35m.