Royal London

Royal London has reported a 45% slump in pre-tax profit in H1, pointing to regulatory charges as a key contributor, while its wrap platform Ascentric saw new business slide 20%.

Royal London has launched an annuity shopping around service to assist customers looking to buy a guaranteed income for life at the best rates.

Jon Taylor, head of the former Co-op life insurance business, is to replace Hugo Thorman as managing director of platform Ascentric.

Royal London has said it will continue to pay adviser commission on its workplace pension schemes - currently branded Scottish Life - until 2016.

The Co-operative Bank has received a £100m cash injection from its former parent as part of attempts to fill a £1.5bn black hole.

In this week's Retirement Planner news round-up we highlight five key stories you might have missed over the past seven days.

Royal London new life and pensions business was up 18% to £989m in the first quarter of the year, with group pensions benefitting significantly from auto-enrolment.

The promise of guidance at retirement "does not go far enough" and a new form of retirement-focused advice must be created by the regulator, according to Royal London.

Royal London is embarking on its first television advertising campaign in over a decade in order push it's direct to consumer (D2C) offering to the public.

Royal London Group chief executive Phil Loney has called on the industry and regulator to come up with a "new form of advice" to service those at point of retirement and meet the challenge set by the Chancellor.