PIMFA, which represents 1,000 UK wealth managers and and financial advisers, has raised concerns on the potential impact of a ‘no-deal’ Brexit and how it will affect private investors and firms.

Over many years the big insurance and investment companies have been portraying retirement as one big vacation where sensible savers can play golf or lounge about on sandy beaches, living their retirement dreams.

A survey by fund manager Legg Mason has found that a third of wealth managers (32%) say they are holding more cash across clients’ portfolios to protect against a market correction.

The latest digital edition of Financial Planning Today, our 40-page magazine for Financial Planners and Paraplanners, has now been published and is available online.