Hargreaves Lansdown changes

Primrose

Just received a very high handed "take it or leave it" message from H-L saying that on 5th February  (thanks for the short notice!) all types of ISAs invested with them will be consolidated. .  I assume that this means that former PEPS, Mini ISAs and ordinary ISA holdings, instead of being shown as currently, under separate categories, will be amalgamated.

it would have helped to have given an example of how this would work in practice so that less experienced long term investors with them could better understand.   Am I alone in thinking that H-L are becoming more client unfriendly with their "accept this or push off to another broker" attitude?   Some clients may have kept their various investments separated for very good reasons. 

eskbanker

I can understand their desire to move away from ongoing support for long-obsolete products, on a non-negotiable basis, and can see that such moves are never likely to go down well with those affected (an ever-decreasing number), but yes, they should communicate better if a customer isn't easily able to understand the impact.

dunstonh

Just received a very high handed "take it or leave it" message from H-L saying that on 5th February  (thanks for the short notice!) all types of ISAs invested with them will be consolidated. .

That is long overdue and good news.   Most other platforms have completed that long before now.

it would have helped to have given an example of how this would work in practice so that less experienced long term investors with them could better understand.

It isn't that difficult to understand.  One ISA account instead of segments.

Am I alone in thinking that H-L are becoming more client unfriendly with their "accept this or push off to another broker" attitude?  

I suspect you are because there is no logical reason why you would want to keep them the old way.   Even if you are not alone, you are going to be in an absolutely tiny minority and there is nothing you can do about it as all the segments you have will automatically be combined if you move to another platform.

That said, for such as simple transaction in respect of where you are now and how it will be after, they should be able to describe that easily and if you cannot understand it, then perhaps their message was not as clear as it should be.

Some clients may have kept their various investments separated for very good reasons. 

Trying hard but cannot think of any.

george4064

I’m sure they would be happy to explain how it would look like once they’ve been consolidated if you sent them a secure message