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Woodford compensation and No Win No Fee fees
Comments
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If you want rid of it, you may be able to donate it to charity via HL.
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Anything new on this topic? Have Augusta (or other bodies) been chasing for payment now that Harcus Parker appear to have "lost interest"?
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My understanding is that there will be a further payment due once the final investments are sold but I've not seen a timeline for that. It's likely to be a fairly small amount that's now remaining but by transferring that will move to the new provider assuming you can actually move them when they are suspended?
Remember the saying: if it looks too good to be true it almost certainly is.0 -
I have kept this with HL now they tell me they can't do anything with it but they can donate it to charity so there must be some value in it ?
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Worthless things can be donated to charity. Charities do have to dispose of some donated items, but in the case of electronic assets this is unnecessary. Perhaps there will be some small payment in the distant future, but if you are paying monthly custody fees for the holding, what are the chances of this being more than you are paying? I guess HL does not levy fees onto charities if donated assets are being held for them.
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The Settlement Scheme had a fund of £230m to repay investors, of which £185.7m was distributed in 2024. The remainder was retained as a reserve to cover ongoing costs. According to the scheme report issued this month, March 2026 (https://lfwoodfordfundscheme.com/wp-content/uploads/2026/03/LFSL-scheme-supervisors-report-5-Mar-26.pdf), there is still £39.6m in reserve but some of this will inevitably be used to cover costs too. Whatever is left after that could be distributed at a later date.
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I thought HL waived holding fees for the Woodford fund?
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N.B. (Amended from Forum Rules): You must investigate, and check several times, before you make any decisions or take any action based on any information you glean from any of my content, as nothing I post is advice, rather it is personal opinion and is solely for discussion purposes. I research before my posts, and I never intend to share anything that is misleading, misinforming, or out of date, but don't rely on everything you read. Some of the information changes quickly, is my own opinion or may be incorrect. Verify anything you read before acting on it to protect yourself because you are responsible for any action you consequently make... DYOR, YMMV etc.0 -
Have Augusta/Harcus Parker 'gone away' and that's the end of it or is it wishful thinking?
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Yes, you are correct:
I wasn't aware of that until now, and it makes the rump of Woodford units merely an annoyance to those who wish to close out their HL account.
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There's obviously plenty of time for Augusta to bring a claim, and I would not expect it to be immediate, but the more time goes by the less likely this becomes.
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