Pensions  

Hargreaves Lansdown sends bullish signal

Hargreaves Lansdown has expanded the corporate pension side of the business in response to employer demand, according to Mark Kiddell, head of corporate pensions at the Bristol-based service company.

Mr Kiddell said: “Any expectation that workplace pension provision could be quietening down has proved unfounded. Demand from employers and their employees for support and guidance in the face of continued market turmoil has gone off the scale through the course of 2014.”

He identified the catalyst behind the changes as ongoing turbulence in auto-enrolment rules, stimulating employer reviews as well as increasing interest in workplace education among both employers and employees.

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The firm is also expanding its workplace education programme, and will publish an analysis of how it affects employee financial engagement.

Hargreaves Lansdown has recruited Pete Holman from the People’s Pension to be its head of corporate new business, and has appointed Nathan Long head of corporate research, with responsibility for investment and technical support.

Mr Holman said: “Millions more people are saving for their future, and with the new pension freedoms, the challenge for the industry and employers is to ensure the individual member fully engages with all their retirement saving. Given the company’s market-leading capabilities in so many areas, Hargreaves Lansdown’s corporate pensions business is uniquely placed to address these challenges.”

Adviser View

James Garman, financial planner at Nottingham-based Retirement Specialist, said: “The changes have stimulated interest and got employees asking more questions, which channels down through to adviser firms. HL are a canny firm, and if they are increasing manpower it shows that capacity exists.”