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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.

1 comment so far. Why not have your say?


Dec 04, 2013 at 10:06

The delay is due to 'lack of critical mass' aka not enough fund managers are playing ball.

Those who have already signed up to other platforms restricted or guided architecture have found themselves done over as no discernible change in fund flows have been experienced.

Unless HL are going to steer fund flows for money received, then the proposition is just as valueless - AND the FCA should take a long hard look at the pricing model.

Roll on the announcement by the FCA of a 'sunset' clause on existing trail and see what happens to the company share price then.

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