Regulation

Financial advisers should utilise their relationships with solicitors and accountants to drum up auto-enrolment (AE) business, the Association of Professional Financial Advisers (APFA) has said.

The National Audit Office (NAO) has launched an investigation into the new financial services regulatory structure that came into effect this year.

The government has named the first bodies to have applied for the 'super complainant' status, a legal tool which will allow them to force the regulator into swift action over failings in the financial services sector.

SPACE INVADERS

MULTI-ASSET

Lloyds Banking Group is back in the black after announcing a profit before tax of £2.1bn for the six months to the end of June - and said it is on course to target IFA clients orphaned by the Retail Distribution Review (RDR).

The Association of Professional Financial Advisers (APFA) has asked for the regulator's budget to be frozen for three years, so it can provide a cut in real terms.

The Financial Conduct Authority (FCA) has agreed to issue further guidance on the treatment of legacy cash rebates as part of its next quarterly consultation paper.

St James's Place (SJP) took advantage of a "dislocation" in the advice market caused by regulatory upheaval to grow adviser numbers by more than 6% in the first half of the year, its CEO David Bellamy has said.

A Berkshire-based IFA is in the process of building an execution-only offering for existing clients with investable assets of £50,000 or less, but who no longer want to engage with the firm's advice process.