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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.
Pension managers expect de-risking market to grow
Just 13% do not think it will expand, with 69% saying more companies will look to offer de-risking solutions in the next two years.
EDM Group's research revealed that 59% anticipated the level of UK DB pension de-risking in 2014 will be bigger than 2013, which is likely to be one of the biggest on record.
The company believes, however, the market could potentially be much bigger, with 17% of interviewees saying the quality of information held by schemes is 'poor' or 'very poor'.
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EDM and ITM, which provides data consulting to the financial services industry, have launched a new joint service to improve the quality of information held by UK defined benefit pension schemes to make it easier and cheaper to de-risk.
The de-risking of the Merchant Navy Officers Pension Fund has been among EDM's 10 major projects in recent years.
EDM's chief financial officer Mark Jones said: "With better quality data that is instantly available electronically, they should receive more competitive quotes and therefore increase their chances of actually securing a deal."
Fiona Baldwin, head of pensions audit at Grant Thornton UK, said: "The Pensions Regulator has highlighted concerns over the quality of member data for some time and, in our experience, when considering a de-risking exercise, having high quality member data is not only commercially desirable but also aids the trustees in achieving good governance and the best outcome for their members."