HL customer charges custom offers

lejog2003

How long is the offer valid for?

There's no way I'd accept an offer with HL's standard ts&cs still applying - particularly clause A7 which allows them to change prices at any time to ensure that the "costs of those services are allocated fairly among our clients".

pip895

lejog2003 wrote: »

How long is the offer valid for?

There's no way I'd accept an offer with HL's standard ts&cs still applying - particularly clause A7 which allows them to change prices at any time to ensure that the "costs of those services are allocated fairly among our clients".

I had a verbal assurance that it was there for the long term - I'm inclined to take them at their word.

lejog2003

trevbrierley wrote: »

Thanks - agree it's as easy as transfering ISA - but no saving for me going to II - why are the fees so high on SIPPs?

ATS in their SIPP schedule of fees (pdf) list all the work necessary to manage a SIPP in and out of drawdown. I'm transferring my SIPP in drawdown to them as they are slightly cheaper than iii. I'll have to forgo a monthly income for an annual income though as I'd either have to maintain a cash balance or pay £150 a year in trading fees. If I wanted a monthly income iii and ATS would have been much the same.

zagfles

pip895 wrote: »

I had a verbal assurance that it was there for the long term - I'm inclined to take them at their word.

So you phoned them? I'm just wondering the best way to go about it - secure message or phone, and what to say. Did you have to convince them you'll definitely be leaving if you didn't get a discount?

mutley74

3 working days since I asked for a discount, no reply yet!

OldDIYer

We go the 0.25% offer after telling HL we were leaving!

The reply came next day!

Coupled with HLs extra discount on fund AMCs it makes a big difference, especially if the SIPP in drawdown is left there (as we'd get the lower fee on that too - but presumably not if the ISAs/fund & share a/cs go). Saving from transfering almost gone!

Still minded to let the transfer run (forms posted to II)!

hyposmurf

trevbrierley wrote: »

Still minded to let the transfer run (forms posted to II)!

Quite a few people on here have felt the same.By the time they get to sending complaint letters and starting the transfer process they're pretty fed up that H&L should've acted quicker and fairer.

mikebeaches

Why investors should be wary of discounted funds

"On the face of it, Hargreaves now hosts the cheapest trackers on the market."


"Sadly, while the funds are super competitively priced, Hargreaves’ charges for using their platform are not..."


"The reality is you can buy a much cheaper portfolio using standard-priced index funds from a broker that’s happy to keep a smaller slice of the pie for itself."


http://monevator.com/why-investors-should-be-wary-of-discounted-funds/

zagfles

mikebeaches wrote: »

Why investors should be wary of discounted funds

"On the face of it, Hargreaves now hosts the cheapest trackers on the market."


"Sadly, while the funds are super competitively priced, Hargreaves’ charges for using their platform are not..."


"The reality is you can buy a much cheaper portfolio using standard-priced index funds from a broker that’s happy to keep a smaller slice of the pie for itself."


http://monevator.com/why-investors-should-be-wary-of-discounted-funds/

Not sure what relevance that article has to this thread. This thread is about people getting discounts on the platform charge not the fund charge. That article makes no mention of HL discounting the platform charge and simply assumes the standard 0.45% for comparisons.

mikebeaches

zagfles wrote: »

Not sure what relevance that article has to this thread. This thread is about people getting discounts on the platform charge not the fund charge. That article makes no mention of HL discounting the platform charge and simply assumes the standard 0.45% for comparisons.

Assumed it provided additional insight, to assist individuals' negotiate better HL fees ie less than 0.45%. It provides more tangible evidence the current HL offer is NOT competitive.