Adviser / Broking

Merchant House chief executive Christopher Day has stepped down with immediate effect.

The Association of Independent Financial Advisers (AIFA) recorded a deficit of almost £154,000 in 2011/12.

RESTRICTED OR DIE?

Independent financial adviser Paradigm Group is to launch an asset management business offering discretionary fund management services.

Lloyds Banking Group (LBG) will no longer offer a mass market investment advice service for clients with less than £100,000 to invest.

Zurich is to cut 200 jobs from across its UK Life business.

Ken Edwards, the well-known IFA sales head who retired from Baillie Gifford in 2011, has joined Enterprise Investment Scheme (EIS) provider Calculus Capital.

A former tied adviser who defrauded a friend out of £22,000, pocketing £10,000 for himself, has escaped jail but must repay the money.

An independent financial adviser is spearheading a campaign to revive trust in financial services, after warning the situation had reached a "crisis point".

Asset management and advisory group Ashcourt Rowan has narrowed its losses after implementing a programme of cost savings following a strategic review of the business.