Keith Richards, who stepped down as distribution director at Tenet today, has been named as the new chief executive of the Personal Finance Society (PFS).

The Financial Services Authority (FSA) has revealed that the number of advisers practising in the summer of last year was down 11.5% on the previous year, a fall of more than one in ten.

The Financial Services Authority (FSA) has clarified that advisers who only advise on passive investments do not meet the requirements needed to call themselves independent.

True Potential Wealth Management has said it is offering a "new future" to bank advisers who have found themselves out of a job as a result of changes brought on by the Retail Distribution Review (RDR) and the overall downsizing of the market.

The Financial Services Authority (FSA) has fined Nestor Healthcare Group Nestor) £175,000 for failing to take adequate steps to ensure that its board members and senior executives complied with the share dealing provisions of the FSA's Model Code.

Zurich UK Life delivered a business operating profit of £186m for 2012, up 9% on the previous year, a result Zurich said reflects a focus on writing quality business and controlling costs.

SALARIES

Aegon-owned Positive Solutions has said it will be ramping up its recruitment drive in 2013 for both its national IFA and network.

Santander is closing its advice service to new business in light of changes brought on by the Retail Distribution Review (RDR).

Santander's British arm is being investigated by the Financial Services Authority (FSA) for possible breaches in the quality of its investment advice, industry sources told Reuters.