News

Friends Life has appointed David Hynam as chief executive of the life company's UK operations.

Savoy Investment Management Limited failed to take reasonable care to ensure the suitability of the investment portfolios of its wealth management clients, the Financial Services Authority has said following its decision to fine the firm.

Wealth management business Quilter and Co. is to merge with discretionary investment firm Cheviot Asset Management to form a new firm, Quilter Cheviot.

The UK's main inflation rate has jumped sharply to 2.7% in October, having fallen to a 34-month low of 2.2% in September.

David Cameron has issued one of his strongest defences of the banking sector yet, telling the Lord Major's banquet those who "trash the banks would end up trashing Britain".

A conflict erupted between the IMF and European Union last night as it was announced Greece would receive a two year extension to meet its debt reduction target.

Wealth manager Ashcourt Rowan has agreed to a fine of £412,000 from the FSA for a number of legacy issues relating to investment suitability in its Savoy business.

Taunton-based advisory firm InvestSouthWest has launched a recruitment drive in a bid to service 'Mr Average' - a segment of the market it claims has been orphaned by banks and investment-only IFAs.

IFA network PI Financial is in the spotlight again over the mis-selling of unregulated collective investment schemes (UCIS), two months after being hit with a £58,000 fine by the regulator for giving unsuitable UCIS advice.

One of the UK's most "prolific female fraudsters" has been jailed for nine years after conning banks out of £13m.