Investment General

The FSA has issued updated guidance on firms' use of distributor-influenced funds (DIFs).

It's our round-up of the stories your clients may have read in the national newspapers over the weekend...

Investment Week, Professional Adviser's and IFAonline's sister title, has a new look, with its first revamped issue out today.

Warren Buffett has chosen who will succeed him as the new head of Berkshire Hathaway, but has not yet revealed the identity of the favoured one to shareholders.

HSBC is set to claw back thousands of pounds of bonuses from executives after its long term care advice subsidiary was fined for mis-selling bonds to elderly customers.

Lloyds Banking Group made a loss of £3.5bn last year - largely due to money set aside to cover payment protection insurance (PPI) claims - and said its bonus pool was down 30% against 2010.

Taxpayer-owned The Royal Bank of Scotland (RBS) made a £2bn loss last year, its fourth straight year of losses since its 2008 bailout.

Merchant Capital has launched Merchant Wealth, a private client wealth management service.

A marked rise in net fee income in its investment management division helped Rathbone Brothers post a 30% increase in profits in 2011.

GAM has poached two Quilter executives as the global investment manager looks to expand its discretionary fund management (DFM) capability and develop outsourcing solutions for UK IFAs.