We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Leaving HL without transfer charges
Options
Comments
-
HL have agreed to to waive my transfer charges.
I think I got the same letter. (If it is very patronising then it is probably the same one.)
However while HL are prepared to waive my exit charge "as a gesture of goodwill" they have ignored my request for a modest amount to cover my time and effort in dealing with this matter. I shall therefore take my complaint to FOS as I believe it is only reasonable I be compensated (albeit only partially) for all the extra work that HL have put me to. I also don't want them thinking that I am in any way grateful for their "goodwill".
However for anyone who has not yet claimed for their exit costs then do so. The clear message is that HL will refund you if you persist.
(I will struggle to keep my letter to FOS reasonably short given how much I wish to say.)0 -
Further to my complaint, as a valued client I have been offered a discounted charge of 0.25% across the board (both ISA & SIPP) instead of the advertised 0.45%.
Quite how long this offer will continue is unclear but these are the terms of it:This is an agreement between you and us and we reserve the right to change these arrangements with the requisite notice if we deem it appropriate, for example in the event we consider these arrangements are used for purposes that may be detrimental to Hargreaves Lansdown, or for the reasons set out in section A7 of our terms and conditions.
Other than the amendments to our normal service or charges that are mentioned in this letter, all other aspects of the terms and conditions of using the Vantage service remain the same.
Hmm, decisions, decisions. This may sway towards staying with HL, it makes them even cheaper for SIPP's and not much more expensive on my ISA with the added bonus of free one off and monthly investment into funds such as Vanguard which invariably attract a fee elsewhere.0 -
we reserve the right to change these arrangements... in the event we consider these arrangements are used for purposes that may be detrimental to Hargreaves Lansdown0
-
So much for transparency and a level playing field!I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
My offers down to 0.20%, capped at £250k rather than £2m! I'm still going after the way they've handled this affair, and since their new offer is still twice the ATS price.
A flat 0.20% managed fund fee will be applied to the first £250,000 of your SIPP value and nil charge applied thereafter. As a valued client of Hargreaves Lansdown we are pleased to offer you these arrangements. They are applicable to you. These arrangements are non-transferable, although of course we are always happy to talk to other similar investors you may know about their investments if they are thinking of using Hargreaves Lansdown.
This is an agreement ..... <then the same as AVFC1982>.
I was unsure whether to publish this given the requirement to keep offers confidential given in their complaints process and the clause above about being detrimental to HL. But given the statement I've highlighted in bold, I think its obvious they are monitoring this thread and expect it to appear here. And anyway I'm still going.
And they've offered to waive exit fees but are silent about my concern that new fees will be charged from March 1. I'm going to reply saying I'm still going and intend to appeal to the FOS if they don't allow me to leave freely.0 -
not stinging you for the full 0.45%
Let's all write to HL - "It's not fair! Avfc has some, I want some too....." (cue sound of stamping feet and tears of temper...).:rotfl:0 -
Let's all write to HL - "It's not fair! Avfc has some, I want some too....." (cue sound of stamping feet and tears of temper...).:rotfl:
As an ardent Birmingham City fan, I'm extremely pleased to have trumped a V***a supporter. :rotfl:Not that it matters, I'm still off
Are HL in damage limitation mode here? How long do you think this offer will last for since HL's ts&cs say they can change prices to "ensure that the costs of
those services are allocated fairly among our clients"?0 -
I was unsure whether to publish this given the requirement to keep offers confidential given in their complaints process and the clause above about being detrimental to HL. .
You need to have accepted their offer before they can hold you to any confidentiality agreement. "If you choose to accept, we will require you to keep all details of the offer confidential."
Using a confidentiality clause in all complaint settlements is, in my view, not the act of a very trustworthy company. There may be the occasional specific settlement where this is appropriate but as a general condition it seems rather suspect and lacking in transparency.0 -
Blimey, I thought their new charge announcement was going to be a suicide note but it's turning into an election manifesto!I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
Yet another thought, are they meeting the new rules by offering 0.2% to one customer, but still charging other customers the full 0.45%? Is it true that they have to charge a customer the same for all categories of funds, but can charge different customers different charges? If so there was no regulatory reason for my new charges, since they could have continued charging me £6 a month for my 3 trackers (I only held 3 trackers in my SIPP).0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.9K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.9K Work, Benefits & Business
- 598.8K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards