Sanlam Private Wealth has acquired the client bank of two more financial planning companies as part of its drive to increase its presence in the UK.

Towry has taken on Iress's Xplan business software solution to manage client data in its back office.

Royal London's pensions arm, Scottish Life, has added six additional funds to its core investment fund range.

The Financial Services Authority's (FSA) regulations around independent and restricted advice mean that most independent advisers are actually operating as 'restricted advisers', according to one IFA practice owner.

The protection businesses of Royal London, Bright Grey and Scottish Provident, saw a 23% increase in new business during 2012, an increase it attributes in large part to the gender directive.

The scale of financial adviser exits from the industry - largely as a result of changes brought in following the Retail Distribution Review (RDR) - has been underlined by figures suggesting there are some 4,600 fewer advisers today than there were in...

WHO HAS MOVED WHERE?

FEES

A draft National Curriculum for England which includes plans for compulsory financial education at secondary school has been hailed as "a victory" by industry campaigners.

Europe's Markets in Financial Instruments directive (Mifid II) distinguishes between independent and restricted advice, meaning a separate trade body for IFAs is still necessary, according to the founder of the IFACentre.