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).

Advisers placed £1.4bn of new business onto the Quilter platform in the fourth quarter of 2023, according to a trading update from the wealth manager.

Investment manager and Financial Planner Abrdn has confirmed that it will cut 500 jobs as part of a £150m cost cutting programme.

Total advised customers at platform and SIPP provider AJ Bell rose 8% year-on-year in the quarter ending 31 December, according to a trading update today.