Hargreaves Lansdown Exit Fees

sorcerer

Just been told by Hargreaves Lansdown that their is a £25 per fund exist fee if I want to transfer out. Which comes too £325 for me. Only If I transfer as cash then it's free. So I am now in two minds on what to do. Even with this fee I will save more than that by moving to II, or if I transfer into cash, I will have to rebuy the funds at £10 each afterwards costing £150.


Mmmhhh. I hate this RDR thing, it's too confusing.

JohnRo

sorcerer wrote: »

Just been told by Hargreaves Lansdown that their is a £25 per fund exist fee if I want to transfer out. Which comes too £325 for me. Only If I transfer as cash then it's free. So I am now in two minds on what to do. Even with this fee I will save more than that by moving to II, or if I transfer into cash, I will have to rebuy the funds at £10 each afterwards costing £150.


Mmmhhh. I hate this RDR thing, it's too confusing.

The RDR itself is actually quite elegant, it's the platforms required to deliver it that are causing all the confusion. Obviously they've decided to make a straight like for like comparison as difficult as they possibly can for the average retail customer.

colalba

The £25 per stock exit fee is extremely annoying.

ii are offering some cash back and trading credit if you transfer. Up to £240 in total.

http://www.iii.co.uk/straightforward?icn=straightforward_jan2014&ici=heropanel

The trading credit will help you rebalance if you decide to transfer.

Also the £20 per quarter gives you 2 trades.

Doesn't cover the ridiculous £25 exit charges but better than nothing.

Some other providers have more cash back for transfers as stock but I can't remember the details.