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# 496
Old 01-10-2012, 9:32 AM
Fantastically Fervent MoneySaving Super Fan
Join Date: Feb 2009
Location: Sunny Cumbrrrrria
Posts: 2,719

Hargreaves Lansdown are going to be look even more expensive for trackers, especially the HSBC ones, when the lower charging 'clean' class of HSBC trackers becomes available elsewhere see here for the new charges on the clean HSBC trackers.

Unofficially it looks like the 'clean' HSBC trackers (the TER is 0.1% lower than the existing class) will be available around mid-November direct from HSBC and without any additional platform fee (I say direct, it would be more accurate to say via the HSBC Global Investment Centre).

So not only will HL be charging 24pa per HSBC tracker fund (so 96pa if you hold 2 funds both with and without an ISA wrapper for example) but they will charging an extra 0.1% annual charge as well.

It is worth remembering that in a news article a while back a HSBC spokesperson said they were paying commission to HL on the HSBC trackers possibly 0.125% per annum (HL won't tell us what commission they receive because they don't seem to want to be open with their clients unlike some other platforms).

So HL won't want to offer the clean classes of HSBC trackers through their platform (without imposing further holding fees) because they will lose their secret commission and we know how greedy they are.
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