Chartered Financial Planner Tom Barnett has been promoted to be managing director of two wealth management and Financial Planning firms with £1bn under management and advice.

Increased consolidation among Financial Planning firms could create a more sustainable profession, according to a number of Financial Planners.

St Albans-based Financial Planning firm Lumin Wealth has merged with Swiss financial services provider VZ Group in order to boost organic growth and acquisition activity.

The Competition and Markets Authority has provisionally found that platform engine FNZ’s £150m purchase of rival GBST would raise “significant competition concerns” following a review of the deal.