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Two rival platform 'engine' providers - who run many UK platforms including AJ Bell - have joined forces following a takeover deal.

Mercer has unveiled Mercer Money, a personal finance and ‘financial wellness’ platform allowing a company’s employees to manage their pensions and personal finances in one place.

Almost 1 in 2 UK adults (48%) shun financial advisers when it comes to retirement planning advice despite evidence suggesting advised clients were far better financially prepared for retirement.

Digital advice firm OpenMoney - which combines online and human advice - has acquired Jargonfree Benefits (JFB), the employee benefits business set up by pensions guru and cartoonist Steve Bee.

Pension savers who were overtaxed on Pension Freedom withdrawals have been repaid £535mm by HMRC since 2015. 

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