Complaints about SIPPs to the Financial Ombudsman rose by 37% over the past 12 months but complaints about IFAs fell steeply at the same time, according to FOS data released today.

Clients of two brothers who ran an advice firm have described, the shock, betrayal and “terrible emotional impact” on their lives after they lost pensions and life-savings.

Research from Prudential has found that nearly two out of five advisers (40%) are working longer hours this year due to business growth and more compliance.

Financial advisers, wealth managers and platforms will be included in the Financial Conduct Authority’s wide-ranging Investment Platforms Market Study announced today.