Lloyds Bank has revealed plans to target the Financial Planning and pensions markets and is aiming for 1m new customers by 2020.

Bristol-based investment provider and adviser Hargreaves Lansdown has urged investors to be wary of over-relying on fund sector classifications as the Investment Association launches a new sector called Volatility Managed.

Hargreaves Lansdown's Wealth 150 list of tipped funds has been cut to 84 funds, the lowest in the Wealth 150's history.

Purchases of investment trusts by advisers and wealth managers on platforms have reached a record high of £120.9m, the Association of Investment Companies has reported.