Hargreaves Lansdown increase charges

addick08

From 2 June 14 the T&Cs of the HL Vantage service have changed - see Key Features & Terms & Conditions para A10 page 10 . - basically whereas dividends were reinvested without charge once they reached £50, wef 2 June 14 they are now reinvested once they reach £10 at a 1% charge BUT the minimum charge is £1!!! (which equates to 10% effectively). A rather sneaky under the radar increase - how many of us READ the T & C's?????

HL's solution is that the client comes out of auto reinvest, then waits until £250 (per fund) has been accumulated which client can reinvest themselves, or change fund from income to an accumulation one. So, more work for the client!!:(

guitarman001

Sneaky, but why not invest in an acc fund if you're only going to reinvest anyway? That's what I do so thankfully nothing changes for me other than their new percentage charges

TCA

http://www.thisismoney.co.uk/money/diyinvesting/article-2551813/Small-investors-Hargreaves-Lansdown-hit-10-fee-income.html

The HL charges pages mention reinvestment of income but you'd easily think it was under the Share Dealing heading:

http://www.hl.co.uk/investment-services/isa/savings-interest-rates-and-charges