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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 Financial Services Compensation Scheme has declared 12 failed firms in default in April - including former major SIPP provider Berkeley Burke.
Carey Pensions, now know as Options SIPP, has claimed victory in the long-awaited Adams Case over who is liable for SIPPs investments.
Retirement solutions and platform provider Embark is planning a tie-up with Openwork, one of the UK’s largest adviser networks, which will see Embark's new Advance platform become the lead supplier to Openwork’s 2,000 advisers for five years until 2026.
Nearly half (47%) of 55 to 64-year-olds are unaware that deferring the State Pension can boost their retirement income significantly when they start to claim their pension benefits.
Many pension savers are missing this valuable ‘Financial Planning’ option when they retire, according to research from retirement specialist Just Group.
Deferring the State Pension payment can mean significantly higher state pensions with every nine weeks of deferral boosting income by 1% - equivalent to 5.8% more income for every 52 weeks of deferral.
However, just over one in 10 (12%) of those aged 65+ had deferred their State Pension with the figure higher among women (16%) than men (9%) and also higher among the semi-retired (22%) than fully retired (11%).
Just says with Coronavirus hitting financial plans many more could consider State Pension deferral to boost retirement income.
Stephen Lowe, Just communications director, said: “Deferring State Pension is an important option for the rising number of over-65s in good health and who plan to carry on working.
“It needs to be factored into people’s Financial Planning in the run-up to retirement so it is worrying that such a high number of people aged 55-64 don’t know that there is a degree of flexibility around when and how they take their State Pension.”
According to research by Just the appetite for State Pension deferral has waned in recent years with about 1m people currently receiving extra money as a result of deferral, about 25% fewer than the peak in 2004, according to Department of Work and Pensions figures.
With the full New State Pension rising to £175.20 a week from April, deferring for one year would result in
£10.12 extra a week – more than £526 a year.
Those who have started to receive the State Pension can defer payment once during retirement.
Most people tend to defer the State Pension for between one and two years but more than half defer for longer.
Among those who chose not to defer, 31% said it was because they wanted to stop working as soon as they could. A quarter (25%) said they would have had to defer for too long to make the weekly increase worthwhile.
How long after you were eligible did you defer starting to receive your State Pension?
Up to a year -15%
1-2 years - 31%
2-3 years - 26%
3-5 years - 19%
5-10 years - 8%
Source: Just Group
Financial Planners are no longer using cost as the main factor when selecting platforms, according to evidence in the latest Platform Report in the current Financial Planning Today magazine.
SIPP and SSAS specialist Talbot and Muir has launched a series of bespoke CPD-accredited webinars that can be tailored for individual firms of advisers and will be delivered by the firm’s business development consultants.