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Hargreaves Lansdown delays RDR pricing announcement

by Daniel Grote on Dec 04, 2013 at 07:11

Hargreaves Lansdown delays RDR pricing announcement

Hargreaves Lansdown has delayed announcing its retail distribution review pricing structure until early next year.

The discount broker had been set to unveil its unbundled charging structure at the end of this year, and will be required to implement the new structure from 6 April 2014.

It said in a statement to the market it said that the extra time would 'allow us to refine the Wealth 150 review and overall proposition so that we ensure we achieve the best results for our clients.'

Chief executive Ian Gorham (pictured) said: 'We note recent unfounded press speculation about Hargreaves Lansdown's pricing, but at this stage details of our final charges are yet to be confirmed.

'We are delighted with the results of our tender to fund managers seeking market leading fund charges for our clients.

'We look forward to announcing the pricing structure in early 2014 and implementing it before the regulatory deadline of 6 April 2014.'

Hargeraves has said its unbundled pricing structure will be tiered, and brokers at Barclays have speculated over the levels at which they would be set.

8 comments so far. Why not have your say?

JM Keynes

Dec 04, 2013 at 07:40

After an era of execution only when, like the dinosaurs, advice will become extinct, we can start all over again with IMRO and FIMBRA, evolving into the PIA, then the FSA, then the FCA - it's evolution - Darwin was right!

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Gordon Hay

Dec 04, 2013 at 09:07

Interesting they don't have this sorted yet given the notice they had on RDR - surely not a case of enjoying their last few months of rich pickings ?

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Martinifa

Dec 04, 2013 at 10:00

RDR Jan 2013, notice 4-5 years, with all their resources you would have thought they would have be read.

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Chapman

Dec 04, 2013 at 10:20

Perhaps they are worried what some of their clients will think once they realise that in many cases I would imagine up to half of their amc has been rebated back to them.

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Michael Brown

Dec 04, 2013 at 10:35

Now why would you change something where you are making a fortune and thus remain behind the door?

At the same time the majority of others are not behind the door but outside facing the baying crowds?

One would think that the FCA would get it all together so all were equal but it seems that some are more equal than others?

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L L

Dec 04, 2013 at 13:05

Advice is slowly dying. Execution only and non advised will be the norm in 5 years.

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SJ

Dec 04, 2013 at 16:18

There will always be people who are happy to pay for good advice.

The advice that's slowly dying is the unprofitable or dangerous type.

It has always been there, but RDR has just made it much more obvious.

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Phil Castle

Dec 04, 2013 at 23:28

Anything to with the the thematic review I. to execution. only and simplified advice quoted in MM today?

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