Life, pensions and investment company Royal London has changed its underwriting limits for HNWI, increasing limits in many cases.

A year on since the increase in the pensions’ annual allowance, the majority of HNW individuals (HNWIs) (56%) are failing to utilise the extra £20,000 allowance available to them, data compiled by the Saltus Wealth Index Report has revealed.

New research suggests that on average HNW individuals are providing £10,000 of support a year to hard-pressed family members.

New research suggests that wealthier investors are the most likely to be victims of financial scams with 49% of those with assets of £250,000 or more saying they have been victims.