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A senior figure at a Sipp firm fears operators could put their balance sheets before the best interests of consumers if the FCA fails to get its latest capital adequacy plans right.

Woodford Investment Management has invested £21million in AJ Bell, the company has announced.

The FCA has proposed changes to the new capital adequacy rules - including a relaxation of the frequency of calculating AUA - which it says will reduce firms’ compliance costs.

Co-founder of Sipps firm Mattioli Woods, Bob Woods, will step down as executive chairman next year to take on a new role.

A director at Suffolk Life has left the company after it ended a strategy of pro-active acquisition of Sipp books.

Hornbuckle and Prudential have joined forces to bring a new at-retirement proposition.

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