Industry jargon deters nearly 55% of people from investing, according to a new survey.

Private equity firm Aquiline Capital Partners and fintech Allfunds have pulled out of the bidding race for adviser platform Nucleus.

Financial adviser numbers have risen by 1,400 (4%) since the Retail Distribution Review (RDR) and the Financial Advice Market Review (FAMR), ending years of decline.

The owners of UK adviser platforms and SIPP providers Transact and James Hay have tabled cash offers for competitor and SIPP provider Nucleus.

US-owned investment manager Vanguard has added a drawdown option to its SIPP-based Personal Pension plan.