News

The former boss of failed investment firm Keydata is suing the regulator for £371m, accusing it of a "politically motivated" abuse of power.

The Pensions Regulator (TPR) used its formal powers to ensure employers comply with their automatic enrolment duties on 23 separate occasions up to the end of June this year.

Just under a fifth of advisory businesses have managed to transition all their clients to a pure adviser charging model, according to a 1,000-adviser survey.

National advice firm Positive Solutions said it is close to resolving an IT error which has left several advisers without pay for as many as four days.

Axa Wealth saw funds under management on its wrap proposition Elevate rise by £2bn in the last 12 months.

Increasing advisers' average productivity with the use of technology and attracting young talent are the keys to narrowing the advice gap in the wake of declining intermediary numbers, according to Standard Life's Barry O'Dwyer.

Threadneedle has launched a Global Multi Asset Income fund, to be managed by Toby Nangle, as it seeks to provide an alternative vehicle for retirement assets.

Multi-asset and equity products have driven net intermediary inflows of £3.8bn for Schroders in the first half of 2014, prompting a 50% hike in the group's interim dividend.

Life and pensions underlying profits at Lloyds Banking Group were down 18% to £461m in the first half of the year, latest results show.

Restricted network Personal Touch Financial Services has incurred an additional £154,000 in costs relating to claims brought against the firm in 2013, its accounts show.