There is a “huge opportunity” for trusted financial advice in the UK, predicts Andrea Montague, CEO at wealth manager Brooks Macdonald.

The average value of an annuity has soared 160% since 2021, according to newly-published client data from investment provider Hargreaves Lansdown.

Financial Planning network Rosemount Financial Solutions (IFA) added 10 new advisers between April and June.

Wealth manager and Financial Planner Titan Wealth said losses grew in the year to the end of March 2024 to £44.8m, up from £27m the year before.

Retirement savings app PensionBee said it saw assets under administration climb 21% to £6.3bn in the six months to the end of June.

The FCA has this week stripped permission to carry out regulated business from a Shropshire-based claims management company called Claimpoint Ltd (FRN 830722).

The Financial Services Compensation Scheme has placed Leicester-based Trust Financial Planning Limited (FRN: 407457) under investigation.

Leicester-based Trust Financial Planning (FRN: 407457) has entered liquidation after being subject to voluntary restrictions from the FCA earlier this year.

The UK investment management industry recorded 10% growth in assets under management to reach a new high of £10trn in 2024 (2023: £91trn).

The government is considering limiting the total value of one-off gifts that people can make during their lifetime under the potentially exempt transfer inheritance tax rules, according to reports.