Twitter icon Email alerts icon Latest News RSS icon Magazine icon Stay connected:

View the article online at http://citywire.co.uk/wealth-manager/article/a722441

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?

ScepticEclectic

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.

report this

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Long time coming: is the recovery here to stay?


Ian McVeigh and Steve Davies, managers of Jupiter's UK Growth fund, talk about their predictions for the UK equity space. Click here to watch a series of sponsored interviews with Jupiter's fund managers on the UK equity market.

Today's top headlines

More about this:

Look up the shares

  • Hargreaves Lansdown PLC (HRGV.L)
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them

More from us

Archive

On the road

Click here to find out more from the Audience Development team.

Read more...

Co-op files £2.5bn loss after 'disastrous' 2013

by David Campbell on Apr 17, 2014 at 09:20

Sorry, this link is not
quite ready yet