Mergers and acquisitions are continuing to drive change in the financial advice sector but acquirers are increasingly looking at consolidation, not aggregation, according to a new study.

Wealth manager Fairstone, which includes one of the UK's biggest Chartered Financial Planners, said it has recorded its best ever six-month period of dealmaking.

Negotiations over a £41m offer for SIPP and pensions provider STM Group have been extended for a second time.

SIPP and pensions provider STM Group has agreed in principle to a £41m takeover bid from Guernsey-based investment vehicle PSF Capital GP II Limited, better known as Pension SuperFund Capital.