He will join in October and will lead and steer the growth of the "HL financial advice proposition."

Hargreaves Lansdown has offered a Financial Planning service for many years but is aiming to move into new advice areas including digital and 'augmented advice' delivered by AI and expand its financial advice service more generally.

Mr Caldicott has extensive experience in the financial advice sector and the company says his transformation and technology skills will be particularly valuable. 

Ian Hunter, client director, Hargreaves Lansdown, said the company had an "exciting strategy" for its financial advice operation. It announced today in its annual results, which showed a drop in pre-tax profits, that it plans to launch an 'Augmented Advice' arm later this year.

Mr Hunter said: “Richard’s background in developing digital led strategies which focus on client experience within the Financial Advice sector is something we can be really excited about.

"His experience and approach align with the exciting strategy we have for our financial advice offering and his experience will help to drive and improve this offering to clients. I look forward to working with him to develop our advisory services.”

Mr Caldicott said: “It’s exciting to be joining the market leader in direct investing at such a pivotal time in their evolution. Making advice accessible and inclusive for all demands new solutions and services, and HL are totally committed to delivering these.

"As the savings and investment experience continues to be digitised there are huge opportunities to leverage digital development, alongside our advisers, to improve the advice experience.”