Old Mutual has reported £1.8 billion in gross sales through Defined Benefit transfers last year.

The percentage of financial advisers putting all their business on platforms is up 45% to 16% in the last year but many advisers are unhappy with service levels, according to a report from data provider Defaqto.

Old Mutual has acquired a Financial Planning business, it announced this morning, with the price undisclosed.

Adviser firm Ascot Lloyd has appointed veteran investment consultant Graham Bentley as investment committee chairman.