Assets held on platforms grew 6.5% to £865.8bn in the three months to June as net sales broke through £17bn for the first time, according to data released today.

Reported total revenue earning from retail investment intermediation fell by 1% to just under £4.4bn according to data drawn from the FCA’s retail mediation activities return (RMAR) for 2020.

Latest data from the FCA has revealed that in the second half of 2020 the number of complaints received by financial firms - excluding PPI complaints - rose by 3.3% to 1.93m.

The FCA has revealed that 50% of authorised firms previously using the Gabriel data reporting system have moved across to the regulator’s new RegData data collection system.