Financial Services newsletter Friday 6th February 2026

Financial Services News

Financial Conduct Authority places restrictions on Advantage Wealth Management – The regulator has imposed restrictions on the Scottish IFA firm following a supervisory notice issued in December. (Financial Planning Today, 6/2/2026, FCA places restrictions on Scottish IFA)
Office for Budgetary Responsibility warns on salary sacrifice pension reforms – The OBR says employer and saver reactions to upcoming National Insurance changes remain “highly uncertain”. Financial Planning Today, (6/2/2026, OBR issues warning over impact of salary sacrifice reforms)
The Lang Cat research shows 7 in 10 paraplanners feel career insecurity – The majority of paraplanners looking to progress their careers feel less confident about achieving their goals over the next two to three years. (Financial Planning Today, 6/2/2026, 7 in 10 paraplanners feeling career insecurity)
Get ahead in 2026 with key market insights- Stay ahead of the curve by accessing our 2026 Salary Guide and Market Sentiment Report. Discover the latest salary data, hiring trends, and expert advice to plan your next career move or refine your recruitment strategy. (IDEX Consulting news, 'Get ahead in 2026 with key market insights')
The Financial Ombudsman Service (FOS) received 47,300 new complaints between October and December, a slight increase from the previous quarter. (Financial Planning Today, 5/2/2026, 'FOS reports dip in complaint numbers')
Tavistock Investments has expanded on its counterclaims in its legal battle with Titan Wealth Services Limited and Titan Asset Management. (Financial Planning Today, 5/2/2026, 'Tavistock expands on counterclaims in case against Titan')
A new report reveals that over three-quarters (78%) of Financial Planning firms expect profit growth in 2026. (Financial Planning Today, 5/2/2026, '3 in 4 Planning firms expect profit growth in 2026')
Political and economic uncertainty has led 23% of Britons to favour cash over investments, according to a report by Standard Life. (Financial Planning Today, 4/2/2026, 'Uncertainty pushes quarter of Britons away from investing')
How leading wealth advisors are using AI to stay competitive - Leading wealth advisors are leveraging AI for enhanced portfolio management, compliance, client communication, and predictive analytics, achieving up to 40% in operational efficiency improvements. But how are they managing critical challenges like data privacy, AI bias, and technology integration? Read our insights piece to find out. (IDEX Consulting news, 'How leading wealth advisors are using AI to stay competitive')
The FCA has reported a 174% increase in enforcement actions against finfluencers in 2025, with 74 actions taken. (Financial Planning Today, 4/2/2026, 'FCA finfluencer enforcement action soars 175% in 2025')
Intelliflo has partnered with Söderberg & Partners to integrate new adviser tools into its platform.(Financial Planning Today, 4/2/2026, 'Intelliflo integrates with Söderberg to add new adviser tools')
Calton is launching a support network for self-employed advisers later this year. (Financial Planning Today, 4/2/2026, 'Calton adds support network for self-employed advisers')
A report by the Society of Pension Professionals (SPP) highlights that DB pensions are now “more resilient, more flexible, and more policy-driven” than ever before. (Financial Planning Today, 4/2/2026, 'DB pensions are ‘more resilient’ than ever: SPP report')
Looking for a new financial services career opportunity? - Our recruiters are supporting leading firms across wealth management, pensions, actuarial and employee benefits. Check out our latest vacancies. (IDEX Consulting news, 'Looking for a new financial services career opportunity?')
Aberdeen Adviser has launched a new guide to help Financial Planners navigate the complexities of pension consolidation.(Financial Planning Today, 3/2/2026, 'Aberdeen Adviser launches pension consolidation guide')
AJ Bell Investcentre has launched a discretionary loan trust to support Financial Planners with inheritance tax (IHT) and estate planning. (Financial Planning Today, 3/2/2026, 'AJ Bell Investcentre launches discretionary loan trust')
Fintel, owner of SimplyBiz and Defaqto, reported a 17% increase in profits for 2025, reaching £25.9m. (Financial Planning Today, 3/2/2026, 'Fintel profits climbed 17% to £26m in 2025')
Only 42% of people understand their retirement options, according to research by Hargreaves Lansdown, highlighting the need for targeted support reforms. (Financial Planning Today, 3/2/2026, 'Less than half of people understand retirement options')
The cost of unpreparedness in Financial Services - For wealth and asset management firms, an estimated 10-20% of sale value is being eroded on deals due to a lack of preparation before sale. Considering selling your firm? Our M&A team can help you boost EBITDA growth and strategically position your firm for sale. Learn more about our unique approach. (IDEX Consulting news, 'The cost of unpreparedness in Financial Services')
Cash ISAs saw a record £57bn in deposits in 2025, according to Bank of England data. (Financial Planning Today, 2/2/2026, 'Record £57bn paid into cash ISAs in 2025')
Johnston Carmichael Wealth has rebranded to Partners Wealth Management, following its acquisition by 7IM. (Financial Planning Today, 2/2/2026, 'Johnston Carmichael Wealth rebrands to Partners')
The majority of UK workers prioritize pensions over other workplace perks, according to a report by Penfold.(Financial Planning Today, 2/2/2026, 'Workers choose pensions over other perks')
The FCA has launched a major review into the impact of AI on retail financial markets and regulation. (Financial Planning Today, 2/2/2026, 'FCA launches major review into AI')

Mergers and Acquisitions

Benchmark Capital has acquired two advice businesses, Caroline Banks & Associates (CB&A) and Verum Financial LLP (Verum), adding £450m in assets under management. The acquisitions are part of Benchmark’s growth strategy. (Financial Planning Today, 5/2/2026, 'Benchmark adds £450m with pair of adviser acquisitions')
Clifton Wealth Partnership has acquired two Scottish Financial Planning firms as part of its expansion in Scotland. (Financial Planning Today, 3/2/2026, 'Clifton Wealth expands in Scotland with 2 acquisitions')
WH Ireland shareholders approve £12.7m takeover by Team plc after voting overwhelmingly (99.99% in favor) to accept the deal. (Financial Planning Today, 9/1/2026, '£12.7m takeover of WH Ireland moves step closer')

Movers

Adam Parker has joined LGT Wealth Management as a wealth manager and wealth planner in its Manchester office. He was previously with Evelyn Partners. (Financial Planning Today, 23/1/2026, 'LGT appoints former Evelyn Financial Planning partner to Manchester')
Phil Towner has been promoted to CEO of Rathbones’ adviser network Vision Independent Financial Planning (Vision IFP) following a three-month strategic review of the business. (Financial Planning Today, 22/1/2026, 'Rathbones looks within for new Vision IFP network CEO')
Warren Vickers has been appointed as managing director of Quilter Financial Planning, the advice network arm of wealth manager Quilter, as the network MD retires. (Financial Planning Today, 21/1/2026, 'Quilter looks within as network MD retires')
Dom Clarke has been promoted to CEO of investment manager Marlborough. (Financial Planning Today, 15/1/2026, 'Marlborough promotes Clarke to CEO')
Former Pensions Minister Guy Opperman has joined pension admin firm Aptia as a strategic adviser. (Financial Planning Today, 14/1/2026, 'Former Pensions Minister Opperman joins pension admin firm')
Emma Lovell has been appointed as the new CEO of STEP, the global professional body for trust and estate practitioners, as Mark Walley retires. (Financial Planning Today, 8/1/2026, 'STEP hires new CEO as incumbent Walley retires')