Networks don't collect enough money from their advisers to maintain sufficient systems and controls, which means they can only go one way - down, according to the chief executive of IFA network 2plan.

True Potential has launched a tool on its platform which will allow advised clients to manipulate their financial plan independent of their adviser.

An industry initiative managed by the Tax Incentivised Savings Association (TISA) and backed by 50 firms and trade bodies has called on the regulator to agree on a ‘common sense' standard for the delivery of guidance to consumers.

One in five of those retiring in the coming year have no idea how their pension withdrawals will be taxed, Fidelity research has found.

Providers who have cut drawdown charges in the run-up to April 6 to "grab market share" will revisit their decisions in the months to come, suggested LV=.

Prudential's UK life arm has reported a growth in operating profits of 7%, despite suffering a sharp fall in its individual annuity business following the announcement of the government's pension reforms.

Insurer Prudential's chief executive Tidjane Thiam is to replace Brady Dougan at the helm of Swiss bank Credit Suisse.

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The government is to force tax avoidance schemes to reveal they are being monitored by HM Revenue & Customs (HMRC) as part of its wider clamp down on tax crime.

Providers have said a charge cap on income drawdown, as proposed by Labour leader Ed Miliband, is "unnecessary" and a "solution to a problem that does not even exist".