Regulation

The Financial Services Authority (FSA) has warned that firms must make sure any rebalancing of clients' portfolios is "entirely mechanical" unless they have discretionary permissions.

Chichester-based IFA firm CPN Investment Management has launched Money on Toast, an online advice service that aims to provide simplified advice to those who find traditional advice inaccessible or too expensive.

The Retail Distribution Review (RDR) is set to see an explosion of advice "brokers", instead of restricted or independent advisers, according to Panacea IFA.

The Financial Services Authority (FSA) has told paraplanners they should challenge their financial advisers on suitability letters to help meet regulatory requirements and improve relationships with clients.

An "explosion" in regulatory costs is becoming a "huge problem" for networks and national advisory businesses, according to a director at Lighthouse Group.

CHARGING

COMPLAINTS

The Financial Services Authority (FSA) has completed its consultation on the Retail Distribution Review (RDR), according to Lansons' head of regulatory consulting.

AWD Chase de Vere has stressed it will remain independent post-RDR and will not develop a restricted or simplified advice offering.

A financial adviser has been jailed for two years after swindling three women, including two elderly aunties, out of £312,000.