Ken Davy, the founder of Fintel - the financial fintech and support services firm which owns SimplyBiz and Defaqto - is to step down as chair in May.

Advisers are more frequently recommending onshore open-architecture bonds, annuities and more sophisticated investment products.

Nearly three in 10 advisers (28%) have changed one or more of their preferred platforms in the last 12 months, according to a new survey.

Royal London, Aviva and AJ Bell have topped the list of the most recommended pension providers in Defaqto’s newly-released Pension Service Review.