News

Assets under management in UK funds reached a record £658bn last year, with fixed income yet again the best-selling asset class despite a late surge in interest in equities.

Thousands of advisers have yet to obtain their mandatory statement of professional standing (SPS), according to figures from accredited bodies.

Aviva is to allow advisers to outsource investment to discretionary fund managers as part of its managed portfolio service.

The Financial Services Authority's (FSA's) thematic review into the annuity market needs to go much further than its current remit to reflect the development the market, a provider has said.

The Equity Release Council has revealed it will not replace outgoing director-general Andrea Rozario.

Details of the thematic review of the £11bn annuity market have been revealed by the Financial Services Authority (FSA).

Rebus Investment Solutions, a company which helps investors recoup losses from complex investments which they argue they have been mis-sold, has secured £750,000 of compensation on behalf of five clients invested in a carbon credit scheme.

National Employment and Savings Trust (NEST) Corporation has revealed it saw a 40% opt-out rate following its auto-enrolment staging date.

A former head of HM Revenue & Customs (HMRC) who stepped down after he was accused by MPs of lying has been hired by HSBC to advise on honesty, according to reports.

MPs have heavily criticised Barclays' defence of its bonus programme, labelling former CEO Bob Diamond's £2.7m bonus for 2011 as "absolutely extraordinary".