Regulation

The Financial Conduct Authority (FCA) has announced a review of complaints handling and management in major firms, including building societies.

The Financial Ombudsman Service (FOS) handled more than 327,000 complaints in the first half of the year, a record for the organisation, figures published today show.

Flows into multi-asset products have been growing consistently in recent months, and multi-asset now constitutes 11% of the UK funds market.

DEAD DIY

COMPLIANCE

ADVISER NUMBERS

Sales of self-invested personal pensions (SIPPS) at James Hay in the first half of the year were up significantly but profits and revenues were down.

Mattioli Woods, the pension consultant and wealth manager, has reported increased pre-tax profits of £5.56m, up 9.9%, for the year ended 31 May.

Chief executive of the Personal Finance Society (PFS) Keith Richards has revealed the problem that is infuriating advisers most.

STEVE YOUNG