Robo-advisers could be looking to buy out retiring IFAs to gain their clients, a report says.

Two adviser firms have been bought by a wealth manager for more than a combined £1m.

National advisory firm consolidator Succession is planning a ‘robo-advice-style’ service which will add human intervention to review any investment decisions.

The Society for Trust and Estate Practitioners has urged the Government not to make advisers shy away from legitimate tax planning.