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Pension pots cashed in without advice on the rise
In 2020/21 61.3% of pension pots over £50,000 cashed in were taken without financial advice, a rise from the 58.9% seen the previous year.
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UK median wealth holds steady at £302,000
Median household net wealth held steady for the period April 2018 to March 2020 at £302,000, according to the latest figures from the Office for National Statistics.
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Mattioli Woods client assets pass £15bn
Client assets at wealth manager and SIPP provider Mattioli Woods rose 42% to £15.1bn over the six months ending 30 November 2021.
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FSCS declares SIPP adviser in default
The Financial Services Compensation Scheme has declared a Nottingham-based wealth manager in default amid a flood of claims, many relating to SIPPs transfers.
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MP aims to cut minimum age for auto-enrolment
An MP has proposed plans to lower the age for auto-enrolment from 22 to 18 and to extend the scheme to lower and part-time earners.
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