Hargreaves Lansdown has been selected by ETF Securities to set up a workplace wrap account for its employees' long term savings and investments.

Hargreaves now has 27 workplace wrap accounts either live or in implementation, of which the ETF scheme is one.

ETF is making an unconditional employer contribution to Self Invested Personal Pensions for its employees with the option for members to top it up with additional sums at their discretion.

Implementation consisted of seminars and one to one employee meetings. Take up in the scheme has been 100% of the eligible workforce.

Mark Weeks, managing director of ETF Securities, said: "We chose to use Hargreaves Lansdown's Vantage wrap because it gives our employees a simple, flexible savings scheme with good quality support and information. We wanted to do more than just tick a pension box; we wanted a scheme which would actually help our employees make the most of their long term savings and plan for retirement."

Tom McPhail, Hargreaves Lansdown's head of Pensions Research, said: "We have set up for ETF Securities' employees a scheme which provides low cost access to a wide range of funds and investment opportunities, including their own ETFs, across a range of different accounts, including ISAs and Sipps. This is ideal for their investment and web savvy work force. The quality of implementation process is reflected in the 100% take-up from eligible employees. In addition, 65% of staff are selecting their own investments rather than relying on the default fund."

Founded in 1981 by Peter Hargreaves and Stephen Lansdown, Hargreaves Lansdown floated on the UK stockmarket in May 2007 and is currently included in the FTSE 100 index. HL administers approximately £20.9 billion of assets through Vantage directly on behalf of approximately 388,000 private investors. In total, Hargreaves Lansdown has £22.3 billion of assets under administration and management. The group manages £2.1 billion of funds through its own range of proprietary multi manager funds and a discretionary management service, of which some £700 million is held within Vantage.

Based in Bristol, the business employs over 600 people.