A minority of people have acted on financial advice they’ve seen on social media but the majority lost money as a result, according to a new study.

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National IFA Chase de Vere has reported a 24.2% rise in pre-tax profits to £31.9m for 2024, up from £25.7m the previous year.

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The aggregate surplus of DB pension schemes climbed to £230.5bn at the end of June, according to the latest Pension Protection Fund (PPF) 7800 Index.

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Challenger bank Monzo has been fined £21,091,300 for inadequate anti-financial crime systems and controls between October 2018 and August 2020.

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Employee-owned wealth manager and Financial Planner EQ Investors (EQI) has decided to remain independent after rejecting overtures from potential strategic partners.

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Fast-growing financial Planner Finli Group, formerly Solomon Capital Holdings, has added a further six Financial Planning firms, to bring its total number of acquisitions in the last four months to 11.

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SIPP savers are facing a ‘retirement mirage’ as their confidence about achieving a comfortable retirement outpaces their understanding of how they will achieve it.

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Belmayne, the North Derbyshire firm of Financial Planners, has recruited Chartered Financial Planner Alex Napier to develop the firm’s reach into Sheffield.

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Adviser platform business Wealthtime reported a 4% increase in AUA from £8.9bn to £9.2bn in the year to the end of December, despite challenging markets.

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Two individuals have been sentenced to a combined 12 years in jail for their roles in a £1.5m crypto fraud.

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