New HL fee structure from 01/03/26

ColdIron

Well, the last time they did it was 12 years ago, March 2014, with the RDR

InvesterJones

HL confirmed in a message the nil share custody charges applies to gilts as well as shares, so a little more time to do the transfer.

GeoffTF

I have received a secure message too. HL has confirmed that no custody charges will apply to gilts for one year and that the index linked gits that can currently be traded over the phone at online rates will continue to do so. That means that I have a decision to make. I was half hoping that they would force my hand.

flopsy1973

Hi When dod we receive the email with personalised new account fees that some people are talking about here? All iv had is the email saying our fees are changing as I hold about 350k with them

InvesterJones

https://forums.moneysavingexpert.com/discussion/comment/81861633#Comment_81861633

The emails will likely be tailored for different people - at the bottom of the fee change email you might get a bit of text saying what the change will be for you - it's not a personalised fee, just an estimate of how you're affected by the change. Then some people have also received an offer for free fees on exchange traded assets for a year in the general investment account - this is likely due to them already holding something in a GIA or HL having identified them as likely to deposit in such an account soon.

mills112

I tried out their calculator today and it seems that their estimate of me paying £21pm more is not correct as I had suspected. I am going to be saving money on my SIPP. I will pay more on my fund & share account, so i need to take the cash out when i am not investing in that fund & share account and so my ISA is going to be one that will be hit the most.

i saw an article in the news that the new fee structure makes HL more competitive as they are actually taking a hit because the new structure produces less income. I think they are looking for a share in the smaller investors market as the cap only hit the big investors, so if you aren't a big investor, their fees are actually more attractive compared to their competitors than before the change.

https://portfolio-adviser.com/the-cost-cat-among-the-pigeons-hargreaves-lansdown-cuts-platform-fees/

InvesterJones

https://forums.moneysavingexpert.com/discussion/comment/81862004#Comment_81862004

Depends what kind of investments and whether they're in a wrapper or not - small, exchange traded, investors outside of a wrapper are very badly hit by the changes - you'd have to do a lot of trades on very little amounts before the new system worked out cheaper.

DRS1

https://forums.moneysavingexpert.com/discussion/comment/81862004#Comment_81862004

I just tried the calculator. It only mentions funds and shares. Not cash so why would you need to take cash out of the fund and share account?

Oh and it looks like they got my extra charges spot on - simpler perhaps as I only have one account.

mills112

https://forums.moneysavingexpert.com/discussion/comment/81862166#Comment_81862166

i have cash in my SIPP and ISA at the moment and there is still monthly fees so the fees apply even if it is just cash. I am however getting interest on my cash there so it isn't too bad.

they wrote to me recently and politely told me that i shouldn't be holding cash in my accounts and that i should be investing the cash, but i just ignored them 😄

DRS1

https://forums.moneysavingexpert.com/discussion/comment/81862223#Comment_81862223

Maybe there are subtle differences between the GIA and the ISA/SIPP charges but I hold cash in my fund and share account and I am pretty sure I don't get charged for having that (only for the fund I have). Then again I don't get nagged to invest it either.