Wealth management trade body PIMFA has urged the FCA to reconsider the role of the Financial Ombudsman Service (FOS) and to explore consolidating the regulatory regime for claims management companies (CMCs).

Financial advisers have broadly welcomed the FCA’s new proposals for targeted support for pension savers but have warned more clarity is needed if they are to succeed.

Financial Planners and advisers have very high confidence in the service they provide their clients but are much less impressed by some issues that are not in their immediate control.