HL Charges

Legacy_user

Hargreaves Lansdown have removed the charges for the following from today:
Sell funds to cover charges
Reinvest fund income
Withdraw share certificates
Close your account
Transfer your holdings internally or externally

ColdIron

The £295 + VAT SIPP drawdown early account closure fee was quite a hefty one to scrap

https://citywire.co.uk/wealth-manager/news/hargreaves-scraps-exit-charge-in-wholesale-fee-overhaul/a1270183

tin586

According to their email today they are “helping” me by making their service “simpler”.

So nothing to do with acting before platforms are forced to by the FCA, then!

Not a word about this on the landing page of their website or in the ‘news’ tab.

The changes are obviously welcome.

Albermarle

Not sure it is just the FCA. How about:
Bad publicity from Woodford fiasco.
Competition hotting up ; II getting bigger with takeovers ; AJ Bell going well : Fidelity improving their offering. All three are cheaper than HL and also have special offers from time to time , like cashback for transferring.

tin586

Agreed. Those as well.

And probably also pre-emptive action to fend off any collateral damage from the reckoning for St James’s Place.

Alexland

Very pleased as we are currently transferring our LISAs to AJ Bell for the lower capped £30 fee on ETFs and increased flexibility on using regular investments and this will save us each paying the HL closure fee! AJ Bell's £50 Amazon voucher will cover the two HL in-specie fees so overall the transfers will cost us nothing.

Alistair31

I wonder if AJ Bell will scrap their transfer out fees on SIPP. Would be nice so I can move it over to Fidelity.

AnotherJoe

All we need now is someone moving from Fidelity to HL

tg99

Alexland wrote: »

Very pleased as we are currently transferring our LISAs to AJ Bell for the lower capped £30 fee on ETFs and increased flexibility on using regular investments and this will save us each paying the HL closure fee! AJ Bell's £50 Amazon voucher will cover the two HL in-specie fees so overall the transfers will cost us nothing.

How do you qualify for the AJ Bell Amazon voucher?

Alexland

They have a LISA recommend a friend offer running until 22 sep. I have previously been a customer but they accepted me recommending my wife as a new customer.

https://www.youinvest.co.uk/our-services/special-offers/recommend-our-lifetime-isa

Prism

https://www.youinvest.co.uk/our-services/special-offers