Pension firm Phoenix said it doubled its long-term cash generation in the first half of the year despite a “challenging market environment.”

Wealth manager and Financial Planner Mattioli Woods said pretax profits leapt 48% to £11.9m in the year to 31 May as it continued on its acquisition path.

Pension consultancy and SIPP business XPS Pensions Group has reported pre-tax profits up 13% for the past year.

Ken Davy, the founder of Fintel - the financial fintech and support services firm which owns SimplyBiz and Defaqto - is to step down as chair in May.