Net new business dropped 38% year-on-year to £1bn for Hargreaves Lansdown for the six months ended 31 December 2023 (H1 2022/23: £1.6bn).

The annuity market is buoyant as the Bank of England’s rate pause has encouraged people to take the plunge, according to platform and investment provider Hargreaves Lansdown.

Hargreaves Lansdown has today confirmed the appointment of Alison Platt to the role of chair of the board and as a non-executive director of HL, following regulatory approval.

There were 862,000 additional rate taxpayers last year - more than three and a half times as many as the year the rate was introduced.