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Hargreaves Lansdown hits landmark 2m clients
Investment platform and SIPP provider Hargreaves Lansdown has notched up its milestone 2 millionth client and has also seen record assets under management, according to its 2025 Annual Report.
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Failed SIPP firm clients updated ahead of legal judgment
Clients of failed SIPP provider Hartley Pensions Limited - who have had funds ring-fenced - have been given an update from joint administrators UHY Hacker Young ahead of a legal judgment expected in late October.
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JPMorgan to replace Nutmeg with new investment platform
JPMorgan is to launch a retail wealth management and investment business with its own DIY investment platform next month.
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5 year gap between dream retirement age and expectation
While people dream about retiring at 62 they do not expect to be able to retire until they hit 67, according to new research.
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Sales of escalating annuities surge
Sales of escalating Guaranteed Income for Life annuities that have some inflation protection, accounted for a fifth of all sales in 2024/25 and have increased by 17% year-on-year.
Guidance guarantee: Route map letter proposed
The consultation on the freedom of choice in pensions closed last week and Mike Morrison, head of platform technical at AJ Bell, said "something has to happen now quickly".
Speaking at the AJ Bell ETF Summit in London today, he discussed the different suggestions on how to provide the guidance and touched upon the scepticism about offering face to face advice to every retiree.
He said after talking to other industry experts recently he believed an idea for a letter to be sent out to all retirees with a route map on what to next with their retirement income "makes sense".
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He suggested that the role advisers could play in this was to be involved with compiling and putting together the information for this to document and to ensure it was all factually correct and could be understood by recipients.
While he said it remains to be seen if the new pensions regime, as first announced in the Budget and since reinforced in the Queen's speech, will look exactly the same as first proposed, there was no doubt that it was "the most radical changes to pensions that I have ever seen".
In an article written for delegates he outlined his predictions for the products coming as a result of the pensions reforms.
He said: "There may well be new annuity designs and there will be discretionary solutions, with wealth managed to meet a client's specific investment aims.
"For many, retirement will not just be about pensions but will be a holistic approach to wealth management.
"The future flexibility will undoubtedly mean a greater emphasis on investment management and the component parts of such portfolios and, as such, managers and advisers will need to be aware of the most efficient ways of achieving specific goals in an investment portfolio.
"This might involve cost, liquidity, access to wider investment opportunities and the ability to keep up with new investment ideas."