One in five (20%) people who use Financial Planners or advisers say they are “very concerned” about the prospect of them retiring and a further fifth (26%) say they are “quite concerned”.

Financial advisers should prepare for an anticipated surge in new clients, according to a new report from Investec Wealth & Investment.

The Financial Conduct Authority has approved the prospectus and shareholder circular of the deal between wealth manager Rathbones and Investec Wealth & Investment, which was first announced in April.

Investec Wealth & Investment is to acquire Edinburgh wealth manager and Financial Planner Murray Asset Management for an undisclosed sum.