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City Trustees, a subsidiary firm of Mattioli Woods, has acquired the pensions business of Ashcourt Rowan for £1.3m.

Sipp provider Hornbuckle Mitchell has sold a 60.34 per cent stake in the business to two private investors.

Pension specialist London & Colonial has expressed concern that some advisers may continue to promote questionable esoteric and overseas property developments.

The Financial Conduct Authority (FCA) has banned Kevin Wells, the managing director of Montpelier Pension Administration Services Limited (MPAS), from performing any significant influence function at any regulated firm, and also censured him.

James Hay is warning advisers that that they could be caught out by the new tax treatment on 'trail commission'.

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