Hargreaves Lansdown - ISA/SIPP Cashback offer returns

granta

Special offers to give you more value for your money | Hargreaves Lansdown

Seems to be open to all customers this time around. The cashback amounts appear a lot less generous than previous iterations.

Albermarle

I received an e mail from them but seemed to refer only to cashback when opening a new SIPP/ISA. However the above link also includes transferring into existing accounts.
Also the cashback will not be paid for 12 months whereas it used to be a lot quicker than that. I suppose that is more effective at stopping people transferring out early.

masonic

I presume they exercise their right to claw back the cashback if you do leave early. Paying it at the end of the minimum period makes things clearer, although you do miss out on making a return on it over the period. It is probably quite easy to forget and transfer out prematurely under the old system.

Section62

£100 cashback for transferring in £99,999 of funds is not very generous, when they will charge ~£450 fees over the first year for that amount.

I'm thinking it might be worth a cheeky £10k transfer though.

InvesterJones

Section62 said:

£100 cashback for transferring in £99,999 of funds is not very generous, when they will charge ~£450 fees over the first year for that amount.

I'm thinking it might be worth a cheeky £10k transfer though.

Alternatively they could only charge £45. It depends what type of funds you have.

granta

I already hold an etf only ISA with HL so transferring £10k in at no cost to me for £100 is a small win!

But I'm wondering if the previous golden age of HL cashback is now over if this iteration is anything to go by. Fidelity is looking better at the moment in an equivalent basis

Albermarle

granta said:

I already hold an etf only ISA with HL so transferring £10k in at no cost to me for £100 is a small win!

But I'm wondering if the previous golden age of HL cashback is now over if this iteration is anything to go by. Fidelity is looking better at the moment in an equivalent basis

An ETF only ISA with Fidelity would cost £90, so more than HL.
However it would still be £90 if it was an etf only SIPP, or even an ISA and a SIPP.

Whereas an etf only SIPP with HL is £200,and the £45 for the ISA would be additional.

orange-juice

Came across this with some other deals. I might go for the Charles Stanley and HL offerings.

granta

Albermarle said:

granta said:

I already hold an etf only ISA with HL so transferring £10k in at no cost to me for £100 is a small win!

But I'm wondering if the previous golden age of HL cashback is now over if this iteration is anything to go by. Fidelity is looking better at the moment in an equivalent basis

An ETF only ISA with Fidelity would cost £90, so more than HL.
However it would still be £90 if it was an etf only SIPP, or even an ISA and a SIPP.

Whereas an etf only SIPP with HL is £200,and the £45 for the ISA would be additional.

Yes I realise that too. Just meant that I already have them and am still tied in so adding another 10k for £100 is no extra cost for now. I will soon only have an ISA with HL

tmen

I can see Cashbacks on S&S ISA and Sipp and prize draws on Cash Isa and Lifetime ISA but can't see anything on transferring in Unit Trusts and Oeic is there no cashback on these or am I missing something

Thanks

InvesterJones

tmen said:

I can see Cashbacks on S&S ISA and Sipp and prize draws on Cash Isa and Lifetime ISA but can't see anything on transferring in Unit Trusts and Oeic is there no cashback on these or am I missing something

Thanks

Not sure where you're seeing that, the offer I see applies cashback to anything in an ISA or SIPP (which could be UT or OEICS of course), and the prize draw states "HL Cash ISA, Lifetime ISA, Stocks and Shares ISA or Personal Pension (SIPP)"