Hargreaves Lansdown "playing hardball"

hyposmurf

jamesd wrote: »

Click on the buy more link and you should see the choice then.

Think you need to have funds available in your account for it to show.Doesn't show for mine will have to wait until next payment is taken.

Totton

7_week_wonder wrote: »

Fund Manager Annual Charge 1.5%
Loyalty bonus 0.25%
Net annual charge 1.25%
Fund Manager other charges 0.19%

So, does that mean that come the new charges, unless I switch I will be paying 1.44% plus 0.45%?

If anyone has the time to explain I'd be grateful.

Not as I understand it. You will pay the 0.45% as an account fee to HL, the 'loyalty bonus' will in effect be increased as you will get a larger amount of the fund fees refunded. You will need to decide whether to move across to the clean funds or stay with the current version.

HTH,
Mickey

jamesd

hyposmurf wrote: »

Think you need to have funds available in your account for it to show.Doesn't show for mine will have to wait until next payment is taken.

Hyposmurf, 7 week wonder, Do you get to the "What would you like to do?" screen when you click on the deal link? That normally has three choices, "Sell, Switch into another fund or Buy more". Once you click on Buy more the text "Before you invest please read the key features, commission information and Simplified Prospectus/Key Investor Information Document. " shows and you can click on "commission information" to get that. I get it for an account that has just a few pence available in it.

An alternative way to get it if it really isn't available, is to pick the Switch choice and when you say what you want to switch to, you'll be able to get the information for the switch to fund you pick. You can cancel the trade once you have the information you're after.

The information is also shown on deal notes from around November last year.

If you still can't see it, even using switch to and picking a fund to switch into, send me a list of funds by private message and I'll tell you what the information is for them.

You could also ask HL for a Client Holdings Valuation report. That will tell you the information in both percentage and Pound terms for all funds you hold.

hyposmurf

First option worked thanks jamesd

cepheus

According to my figures I will be better with HL than II and the others after all, so go through the calculations before you change!

Blackdog

jamesd wrote: »

Send HL a message asking them to provide you with a Client Holdings Valuation report. That will list all funds you hold, the AMC, the commission, how much of that is paid to you in Loyalty Bonus and how much HL keeps. The commission part is in both percentages and Pounds. They post it out.

Received my valuation report from HL this morning however it only gives quantity, price, value, cost, gain and yield for each holding and no information on commission or loyalty bonus. Is there another type of report I should be asking for or perhaps I should just message them for a further breakdown?

jamesd

Best to ask them for a report that includes commission information and has headings for:

Account
SEDOL
Stock
Description
Annal Charge
Fund manager's Other Expenses
Trail Commission
Loyalty Bonus
Annual platform Fee
Fund Value
HL Received Commission
Annual Loyalty Bonus
HL Retained Commission
Charge retained by Fund Group

I did ask about commission and that may have prompted a different report from a request not mentioning commission. Might be a check box to include or exclude that detail, say.

If you can it'd be nice to ask them whether there's a specific name for that report to help others ask specifically for it.

for you alone, if you want to send me a PM with the holdings and amounts in each I'll tell you the numbers. Though if you have a spreadsheet available it's not particularly hard to look up the commission information and use the instructions I gave earlier.

Blackdog

jamesd wrote: »

Best to ask them for a report that includes commission information and has headings for:

Account
SEDOL
Stock
Description
Annal Charge
Fund manager's Other Expenses
Trail Commission
Loyalty Bonus
Annual platform Fee
Fund Value
HL Received Commission
Annual Loyalty Bonus
HL Retained Commission
Charge retained by Fund Group

I did ask about commission and that may have prompted a different report from a request not mentioning commission. Might be a check box to include or exclude that detail, say.

If you can it'd be nice to ask them whether there's a specific name for that report to help others ask specifically for it.

Thanks jamesd, I will go back to them for the specific information.

Rollinghome

cepheus wrote: »

According to my figures I will be better with HL than II and the others after all, so go through the calculations before you change!

That's interesting. Is there something unusual about your holdings?

Can't see them being much of an option for most people with an ISA and/or fund and share account paying them 0.45% plus a raft of extra charges on top when you can get a straight 0.25% with zero extra charges even on a very small pot elsewhere. With all the extra charges, HL have been telling share analysts that their total take will remain close to the 0.6-0.7% they take now - which is rather different to the impression they're trying to give to customers.

Even the quality of their service is questionable where it really matters. For example, they make you place fund deals before the markets open at 8.00 am whereas others let you place deals right up to the pricing point so you can get an idea of what's happening that day. I never understand why people place value on the so-called tools and non-advisory advice which seems to be yet more marketing.

Of course, whether it's worth the hassle of moving for smallish pots is another question.

Froggitt

cepheus wrote: »

According to my figures I will be better with HL than II and the others after all, so go through the calculations before you change!

Whats your profile cepheus? eg tracker/fund/shares/small/large