Staffordshire-based pensions adviser Quadros Financial Solutions Ltd (FRN: 764760) has been declared as failed by the Financial Services Compensation Scheme.

Maven Capital Partners, the private equity division of SIPP and Financial Planning firm Mattioli Woods, has acquired EIS manager Newable Ventures Limited as part of a move into the Enterprise Investment Scheme market.

The Government has issued a new Financial Bill which includes the legal mechanism for the abolition of the pensions Lifetime Allowance (LTA).

Proposals from the FCA would require investment advisers to set aside a minimum of 28% of potential liabilities in advance to compensate investors if bad advice is given.

The difference between the best and worst annuity in the open market could pay an extra £13,240 in income or £662 a year over a typical 20-year period, according to Canada Life.