Traditional client segmentation projects make "bad business sense", according to one adviser who has created an offering which lets clients self-segment according to their means.

An online petition calling for Hector Sants' nomination for a knighthood to be withdrawn has received more than 1,300 signatures.

Reyker Securities, the custodian and administrator for the structured products division of Merchant House, Merchant Capital, has terminated its relationship with the company with immediate effect.

FIVE THINGS

Investors embroiled in the CF Arch Cru funds scandal are unlikely to benefit from a global compensation settlement, despite several MPs campaigning on their behalf, one key minister had said.

Almost 40% of UK adults would "never consider" using a professional financial adviser, a study commissioned by the Financial Services Authority (FSA) suggests.

Wealth advice firm Towry Group is eyeing further expansion after raising £35m of new equity from two co-investors of private equity firm Palamon - AlpInvest Partners and Honeywell Capital Management.

The ex-chief executive of Saunderson House, Nick Fletcher, has launched a new IFA firm, London Wall Partners.

Some 34% of client portfolios are being outsourced to discretionary fund managers (DFMs), up from 28% in 2011, according to research released today.

An email from one provider urging advisers to maximise sales in the last week of trail is "desperate" and in "poor taste", according to managing director of Yellowtail Financial Planning, Dennis Hall.