Liverpool wealth manager Blankstone Sington (FRN 143694) has gone into special administration following a company-requested court order under the Investment Bank Special Administration Regulations 2011.

St James's Place, one of the UK’s largest wealth managers and a significant SIPP adviser, suffered a 21% fall in its share price at one point today after announcing a review of its much-criticised fees and charges.

The Financial Services Compensation Scheme has declared Cavendish Incorporated Ltd (FRN: 942176) as in default, opening the door for consumer claims against the firm.

Four Financial Planning and wealth management firms are included in the table of most complained-against financial services firms published by the Financial Ombudsman Service for the first half of 2023.

Pension services and SIPP provider STM has been acquired by Guernsey-based investment vehicle Pension SuperFund Capital in a £39.8m deal that was extended several times since first being announced in July.