Regulation

Total assets in UK wealth management reached a record high of £527bn in Q4 last year, despite fears regulation would dampen inflows and put pressure on costs.

The Retail Distribution Review (RDR) and a similar regulatory upheaval in Australia represent the most significant changes to the global financial advice industry in 2013, according to an influential US report.

Yorkshire and Clydesdale have confirmed that they will be joining a host of other high street banks to exit the advice market.

Positive Solutions has reported profits before tax of £2.3m for last year, wiping out a £0.4m loss in 2011, as it strives to offer a "John Lewis level" of customer service to its advisers.

The Financial Services Authority (FSA) has criticised an independent consultant appointed to review the Arch Cru funds for banned adviser Stephen Danner.

Standard Life has suffered net outflows for its UK retail business, following an 11% rise in redemptions.

The Financial Conduct Authority (FCA) will not be any different from the Financial Services Authority (FSA) and should be "strangled at birth" before regulators do any more damage, according to the head of economics think tank the Adam Smith Institute....

Advisers are equally split on whether the Retail Distribution Review (RDR) will have a beneficial impact on the industry, according to Skandia.

MUTUAL ADVICE

The Financial Services Authority (FSA) should get an independent body such as an accountancy firm to review the success of the Retail Distribution Review (RDR), Zurich's head of government and industry affairs team Matt Connell has said.