Adviser costs for the Financial Conduct Authority (FCA) have been raised 13% to £41.9m for 2013/14.

Legal & General (L&G) has exited the with-profits annuity market.

James Hay Partnership has joined forces with specialist wealth management firm Berry Asset Management to offer a self-invested personal pension to advisers.

MOVERS & SHAKERS

Ingis Asset Management has hired Mira Bhogaita as portfolio manager on the UK equity team.

PIMCO has launched an Inflation Strategy fund for Mihir Worah in response to the threat of rising inflation across the globe.

Changes to income tax that came into effect over the weekend will make work pay, according to Lib Dem minister Danny Alexander.

High earning workers will shift about £5bn into the new tax year to take advantage of the cut in top rate tax, the Sunday Times reports.

Business secretary Vince Cale is pushing forward on plans to ban three former HBOS directors from acting as company directors.

RETIREMENT