Hargreaves Lansdown marketing just a load of rubbish?

blinko

almondsalty wrote: »

Once again you fail to understand the point that has been raised by multiple people. This is a matter of deception and potentially false advertising, not purely under-researching. The Wealth 150 says it represents what they believe to the best funds and classes them as 'superior alternatives'. It is claimed that this selection is made on complex models and rigorous selection process, but it is quite clear that myself, you and others do not believe this to be the case. Therefore it can be classed as very deceptive, not everyone is aware of this and deserves to know.

And 'look at you', way back in 2005 you were spamming Hargreaves Lansdown URL asking for people to 'sign you up', and over half a decade later, you are fighting for them on these boards like a lion.

The key question is why do you feel so passionate about HL? There just has to be some affiliation here because you are clearly pumped. With many of your comments, it sound as if you are talking on their behalf, 'you are very lucky you got away lightly'. And for the record, everyone's username is 'made up' on this forum, I do not believe your real name is Blinko LOL.

We all know HL has done a very good job in discounting initial charges and being efficient. But this is purely a topic based on their marketing.

You do chat some absolute rubbish almond

HL state

"The Wealth 150 is designed for people who would like to choose their own funds. It does not constitute a personal recommendation. As well as the Wealth 150, we also offer a range of multi-manager funds which allow you to leave the choice of underlying funds to our experts, and should you have any doubts as to the suitability of an investment for your circumstances please contact our Financial Practitioners for individual advice. "

So i think its your that has decided they are deceptive becauseyou were naive enough or dopey to believe that the wealth150 was independent advice.

You didn't research your own investments therefore you and only you are to blame for the poor performance of your investments and not HL

almondsalty

Blinko. Again, you are suffering from selective hearing/reading. Step out of the HL office and try not to be so biased when posting. I and others have quite clearly stated that this is a matter of deception. A line at the text at the bottom saying this is not a 'recommendation' does not change this. What we are 'discussing' is not whether this should be treated as advice or not.

What we are actually discussing is the way in which marketing and lists such as these are presented from HL. As said previously, you don't believe that they have been selected with the customers' best interests at heart and are purely for profit making. So I'm not quite sure what you are 'arguing' against all the time.

For the unsuspecting investor, the way this is all presented can be convincing because HL may be viewed as an authority source (because of its size), uses persuasive language and provides the image that is unbiased when people (you included) believe it is not. For example:

"The Wealth 150 represents what we believe to be the best funds across all the major sectors, so wherever you choose to invest you should find something of interest."

"if you are thinking of adding to your investments we believe these are superior alternatives."

"For a fund to be included in the Wealth 150 it must go through a rigorous selection process. Our 10 strong research team use complex mathematical models"

"The Wealth 150 is designed for people who would like to choose their own funds."

dunstonh

An IFA is providing an advice service and being paid to provide advice. A product provider gives no advice but retails their products and services.

HL do both things but the two things should not be mixed up. In the context of this thread (and most others in this section) they are not IFAs but a product provider. However, you would have to be naive to think they do not play on the IFA tag as we have seen people refer to the Wealth 150 as advice or think they are getting an IFA style service when they are not. On paper though, they are not IFAs in this respect.

blinko

almondsalty wrote: »

Blinko. Again, you are suffering from selective hearing/reading. Step out of the HL office and try not to be so biased when posting. I and others have quite clearly stated that this is a matter of deception. A line at the text at the bottom saying this is not a 'recommendation' does not change this. What we are 'discussing' is not whether this should be treated as advice or not.

What we are actually discussing is the way in which marketing and lists such as these are presented from HL. As said previously, you don't believe that they have been selected with the customers' best interests at heart and are purely for profit making. So I'm not quite sure what you are 'arguing' against all the time.

For the unsuspecting investor, the way this is all presented can be convincing because HL may be viewed as an authority source (because of its size), uses persuasive language and provides the image that is unbiased when people (you included) believe it is not. For example:

"The Wealth 150 represents what we believe to be the best funds across all the major sectors, so wherever you choose to invest you should find something of interest."

"if you are thinking of adding to your investments we believe these are superior alternatives."

"For a fund to be included in the Wealth 150 it must go through a rigorous selection process. Our 10 strong research team use complex mathematical models"

"The Wealth 150 is designed for people who would like to choose their own funds."

We have already discussed this stop being so naive, there is no profit generating company that will select something which is best for the customer.

They will 9 times out of 10 select something which is best for them, pays them the most comission, costs them the least to impliment etc

We have been over this before your wasting everyones time.

You joined in Jun 2011 and 50%+ off your posts have been slagging of HL !!!

Former_MSE_Andrea

Hi everyone

Can you do us a favour and try to calm down and keep it friendly please?

Thank you!

Andrea

darkpool

blinko wrote: »

We have already discussed this stop being so naive, there is no profit generating company that will select something which is best for the customer.

tbh, i agree with this. all those IFAs put their own interests first.

i think you should tone it down on the newbie bashing though.

Lokolo

darkpool wrote: »

tbh, i agree with this. all those IFAs put their own interests first.

i think you should tone it down on the newbie bashing though.

You think any profit business won't select something best for the customer?

Never go into business, you will fail very quickly.

Businesses cannot survive without customers, so not putting them first will be catastrophic.

dunstonh

all those IFAs put their own interests first.

Absolutely correct. I charge a fee for advice because I have bills to pay and family to support. I also have staff to pay who work because they have bills to pay and families to support. I would very much like them to work for me for love and no pay but they have to put their interests first as well. However, putting your own interests first does not mean you do not do you job well or correctly.

Next you will be telling us that you have never worked for living. Maybe a benefits scrounger Maybe you went to work and said to your employer that you didnt want paying as you felt being paid to do a job meant you couldnt do it correctly.

Also, what has this thread got to do with IFAs? HL are a product provider in this respect. Not an IFA.

kar999

I can't beleive this thread is still going around in ever decreasing circles.

It's a shame there isn't a paddlock the mods can use.

le_loup

There is, but they haven't!