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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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90% of advisers report leap in IHT enquiries
More than nine in 10 financial advisers (92%) have seen a rise in enquiries about inheritance tax in the run-up to the Budget on 26 November, according to a new report.
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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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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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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.
The Coronavirus pandemic has created the 'perfect storm' for those in income drawdown and many may never fully recover from the impact, according to a new report.
After an unsteady period, defined benefit (DB) pension transfer values increased to a record high during June and the number of members taking a transfer value rebounded strongly too.
Mattioli Woods has made three new board appointments including replacing their chief financial officer. The wealth manager and employee benefits business said that all directors and staff will not be paid their bonuses for the year.
The FCA plans to launch an enhanced Financial Services Register later this month to replace the existing register.
The changeover will happen on Monday 27 July with the previous register withdrawn on Friday 24 July.
Later in the year the regulator will add a directory of certified and assessed persons to reflect the introduction of the Senior Managers and Certification Regime (SM&CR)
The revamped Register will have a new look and include improvements in response to user feedback.
According to the FCA, the changes will make it easier to find and understand information on the Register.
Firms will be expected to update any links they have to pages on the current Financial Services Register, other than those to the homepage, once the enhanced Register launches.
All current links will be redirected to the enhanced Register’s homepage. The existing Financial Services Register will cease to be available from 6pm on Friday 24 July so that work can take place over the weekend to make the enhanced Register ready for the start of business on Monday 27 July, says the FCA.
The SM&CR regime involves the FCA publishing and maintaining a directory of “certified and assessed” persons on the Financial Services Register. This is to help consumers and professionals check details of key individuals working in financial services.
The directory persons information was planned for March this year but put back partly due to the Coronavirus outbreak and also because the FCA also experienced “operational challenges” when processing some bulk data file submissions from dual-regulated firms at peak periods.
Banks, building societies, credit unions and insurance companies can continue to update the information on their past and present certified employees for inclusion in the directory when it launches later this year.
The FCA recently announced it had proposed extending the previous deadline of 9 December 2020 for solo-regulated firms to submit information about Directory Persons to the Register to 31 March 2021.
The FCA will however allow still publish details of certified employees of solo firms starting from 9 December 2020 on the Register where firms can supply this information before March.
The FCA has pushed back publication of its Annual Report and Accounts - due this month - for at least two months due to the Coronavirus pandemic.
Over three quarters (83%) of Financial Planners want the Lifetime Allowance (LTA) scrapped due to the complexity of the rules and protections, according to a new poll.