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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.
25% revenue growth for Sipp administration firm
The company, which specialises in wealth management and employee benefits, reported total client assets of £4.63bn, which were up 27%, and discretionary AuM of £0.75bn.
The company expects to benefit from the revolution in pensions announced by the Chancellor and also to take advantage of opportunities provided by auto-enrolment.
Bob Woods, executive chairman, said: "I am pleased to report another year of strong growth, in line with our expectations.
"There has been much hard work during the period, hallmarked by the recent Mattioli Woods rebrand of Kudos Financial Services Limited and Atkinson Bolton Consulting Limited.
"This integration has brought additional scale and broadened the group's range of products and services."
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In March 2014 it announced the appointment of subsidiary Custodian Capital as discretionary investment manager of Custodian REIT - a new closed-ended property investment company listed on the Main Market of the London Stock Exchange.
Custodian REIT raised £55 million of new money on admission, as well as acquiring £95 million of UK commercial property sourced from an existing portfolio of 48 properties held by clients of Mattioli Woods.
As manager, Custodian Capital will receive accounting and administration fees plus an annual management charge based on the net asset value of Custodian REIT, enhancing the group's recurring revenues.
Mr Woods said: "These are significant milestones, marking the next phase in our development as a 21st century financial services business.
"The Government's intention to provide full access to pension funds from retirement has brought clarity to the issue of "ownership" and pensions have been made very much more attractive.
"I expect the proposed changes to be good for the group and the industry in general, with new planning opportunities already being welcomed by our clients.
"Changes in employee benefits as a result of auto-enrolment, the introduction of a charge cap on auto-enrolment pension schemes in April 2015 and the abolition of provider commissions in April 2016 are obliging many employers to review their benefits strategies.
"We have positioned the group to take advantage of the opportunities we anticipate these changes will create."
Over the next year the firms plans a further £1 million of capital investment in its bespoke pension administration and wealth management platform.
It also intends to invest more in technology.