Employee benefits have failed to evolve and are failing employees’ needs for financial wellbeing, according to a report from wealth and investment manager Close Brothers.

Nearly a third (32%) of over-55s have deferred their retirement plans since the Coronavirus pandemic began in early 2020.

Investment and advice firm Close Brothers Asset Management has added Paul Smith as Chartered Financial Planner based in its Manchester office.

Adjusted operating profit fell 8% to £21.7m (2021: £23.7m) for Close Brothers Asset Management (CBAM) for the year ended 31 July.