HSBC to launch retirement advice service


HSBC is planning to launch a retirement advice service to help customers navigate the pension freedom reforms.

The bank currently offers restricted advice to investors with £50,000 or more, and has 700 advisers.

HSBC Wealth UK head Caroline Connellan says: “Building on the successful introduction of our flexible retirement account, we will soon introduce specialist retirement advice to help our customers following the recent pension reforms.

“Having one of the largest financial adviser networks of all UK banks means we can offer customers a broad range of financial planning products and services as well helping them manage their day-to-day banking.”

The bank refused to say what channels the service will be delivered through.

Last September, Money Marketing revealed HSBC was in talks with technology provider FNZ to power a platform engine.