One in three companies do not offer financial advice as an employee benefit, often because of the risk of inappropriate advice being given and the negative fallout.

Employee benefits have failed to evolve and are failing employees’ needs for financial wellbeing, according to a report from wealth and investment manager Close Brothers.

Nearly a third (32%) of over-55s have deferred their retirement plans since the Coronavirus pandemic began in early 2020.

Investment and advice firm Close Brothers Asset Management has added Paul Smith as Chartered Financial Planner based in its Manchester office.