Hargreaves Lansdown asks clients for cash to cover new charges

chineplate

guymo wrote: »

They may well have underestimated your intelligence, or overestimated your loyalty, but who is to say what will happen to the massed ranks of investors that have assets on HL's books?

My parents, aged 70ish, have a decent sum in various funds and other securities held by HL and are not interested in investigating what the new charges will mean for them or whether they could save money elsewhere. To them, 1% sounds like a small number. Moreover, their investments have more than met their goals, so their experience has absolutely confirmed to them that HL are serving them well.

My guess is that they are somewhat typical of a large class of investors.

I suppose then that they would appreciate guidance from a knowledgeable investor.

hyposmurf

Am I right in thinking that if you don't have money in your account then you'll be charged an admin each time, as they take the fees from your current funds/shares etc?This a new fee that H&L will charge.
Automated sales to cover charges (selling fund units or shares to meet fees)
Charge:£1.50 per deal

Granted its not much but worth keeping some funds in your account to avoid the charge,

le_loup

You don't have to think it. It's very clear in the new documentation.