In 2020/21 61.3% of pension pots over £50,000 cashed in were withdrawn without financial advice, a rise from the 58.9% seen the previous year.

More adviser firms are buying investment companies via adviser platforms than ever before with an 18% rise in purchases year-on-year last year.

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

VitalityInvest, the investment arm of Vitality, has introduced a 0.15% annual product charge with a charge cap on amounts invested above £200,000.

Financial advice firm Frenkel Topping has acquired Cardinal Management which provides support and advice services to NHS major trauma centres.

Financial Planners have told Financial Planning Today that they expect a rise in wealth management and financial advice M&A deals this year.

Median household net wealth held steady for the period April 2018 to March 2020 at £302,000, according to the latest figures from the Office for National Statistics.

Financial Planning and investment group Tavistock Investments has acquired a 21% stake in retirement-focused financial adviser LEBC from the founder's widow for £10m.

The Financial Conduct Authority has launched criminal proceedings against two brothers who allegedly dishonestly claimed their firm was authorised.

The Financial Services Compensation Scheme has declared a Nottingham-based wealth manager in default amid a flood of claims, many relating to SIPPs transfers.