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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.
Individuals from Sipp firms set for FCA enforcement action
The regulator confirmed to Sipps Professional this afternoon that two individuals are going to be referred to its enforcement division.
If a member of staff is referred it does not automatically follow that the firm they work for will be as well, the FCA said, although it would not be drawn further on the circumstances of the ongoing cases.
The regulator has highlighted concerns about practice in the sector and last Autumn threatened action against Sipp operators ahead of its thematic review.
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FCA chief executive Martin Wheatley addressed the matter at the FCA's annual public meeting today in London.
He told those assembled: "We have had a continual issue over a number of years with Sipps being used as vehicles to pull people into inappropriate products.
"Two firms that have run those operations need to look very carefully at the products that are being invested in Sipps.
"Investigations are underway and this is something we will come back to."
The FCA said there was no deadline for the investigations to be completed by and it was unable to provide any more details at this time.