Contacting Hargreaves Lansdown

Alexland

Thrugelmir said:

HL has no control over volumes of applications at any given time. Staffing levels aren't a tap that can be turned on and off on demand.

What is to suggest that HL's continual problems are driven by the variability of demand? Even if true they have some control and could suspend advertising for, and accepting, new inbound transfers but that wouldn't be in their business interests. So they are making a hard nosed business decision to run a rubbish transfer service for many years without warning new or existing customers about it which is a bit unfair to those platforms (such as Jarvis or AJ Bell) who have allocated resources to run excellent transfer services.

Thrugelmir

Alexland said:

Thrugelmir said:

HL has no control over volumes of applications at any given time. Staffing levels aren't a tap that can be turned on and off on demand.

What is to suggest that HL's continual problems are driven by the variability of demand? Even if true they have some control and could suspend advertising for, and accepting, new inbound transfers but that wouldn't be in their business interests. So they are making a hard nosed business decision to run a rubbish transfer service for many years without warning new or existing customers about it which is a bit unfair to those platforms (such as Jarvis or AJ Bell) who have allocated resources to run excellent transfer services.

Ever managed a business? 

Alexland

Thrugelmir said:

Ever managed a business? 

Yes, ever had to deal with the HL transfer team? Really painful. Some companies are better at some activities than others and it's not always excusable.

Thrugelmir

Alexland said:

Thrugelmir said:

Ever managed a business? 

Yes, ever had to deal with the HL transfer team? Really painful. Some companies are better at some activities than others and it's not always excusable.

Even the best fail.  Fortunately as consumers we have choice. Voting with ones feet. Or pay more for a better quality personalised service. Though that still guarantees nothing in certain scenarios. 

barnstar2077

I messaged HL the other day to ask them a question about transferring my account away from them, they responded straight away with a long email about how great their service is and how I should be wary of scammers trying to take my money etc!  It would seem that they put more of their resources into stopping you from leaving than they do into helping you leave.  Odd that :  )

olbas_oil

Thrugelmir said:

Even the best fail.  Fortunately as consumers we have choice. Voting with ones feet. 

But there's a hole in my bucket, Dear Lisa!
I'm trying to vote with my feet, but they won't respond!
Anyone considering joining Hargreaves Lansdown should consider whether they might dodge a bullet by looking elsewhere. 

Thrugelmir

olbas_oil said:

Thrugelmir said:

Even the best fail.  Fortunately as consumers we have choice. Voting with ones feet. 

But there's a hole in my bucket, Dear Lisa!
I'm trying to vote with my feet, but they won't respond!
Anyone considering joining Hargreaves Lansdown should consider whether they might dodge a bullet by looking elsewhere. 

What staffing to active account ratio would make you feel comfortable? 

olbas_oil

Thrugelmir said:

olbas_oil said:

Thrugelmir said:

Even the best fail.  Fortunately as consumers we have choice. Voting with ones feet. 

But there's a hole in my bucket, Dear Lisa!
I'm trying to vote with my feet, but they won't respond!
Anyone considering joining Hargreaves Lansdown should consider whether they might dodge a bullet by looking elsewhere. 

What staffing to active account ratio would make you feel comfortable? 

If that was the cause of the delay. then I would like them to use the same staffing account ratio as they use on the transfers-in team. Or the same as the other brokers, who manage to provide an initial acknowledgement (and actually the whole transfer) within a month or two. 
But I don't think that is the cause at all.  Why would a broker choose to run such an inefficient transfer out process, whilst charging far higher fees than others?

barnstar2077

olbas_oil said:

Thrugelmir said:

olbas_oil said:

Thrugelmir said:

Even the best fail.  Fortunately as consumers we have choice. Voting with ones feet. 

But there's a hole in my bucket, Dear Lisa!
I'm trying to vote with my feet, but they won't respond!
Anyone considering joining Hargreaves Lansdown should consider whether they might dodge a bullet by looking elsewhere. 

What staffing to active account ratio would make you feel comfortable? 

If that was the cause of the delay. then I would like them to use the same staffing account ratio as they use on the transfers-in team. Or the same as the other brokers, who manage to provide an initial acknowledgement (and actually the whole transfer) within a month or two. 
But I don't think that is the cause at all.  Why would a broker choose to run such an inefficient transfer out process, whilst charging far higher fees than others?

I want to say "because it makes money" ?

Alexland

barnstar2077 said:

olbas_oil said:

Why would a broker choose to run such an inefficient transfer out process, whilst charging far higher fees than others?

I want to say "because it makes money" ?

It might not be an active choice but just down to neglect, poor management of resources and lack of investment in tools and ongoing process improvement. It's often cheaper to run a good service as you have less cost of customer contacts for chases, complaints, etc.