New HL fee structure from 01/03/26

Rollinghome

https://forums.moneysavingexpert.com/discussion/comment/81893524#Comment_81893524

Thanks for that. I thought it might be less problematic to wait until SSON is sorted, hopefully by 27/2. Would be deeply peeved if charged for a full month.

Xenon

https://forums.moneysavingexpert.com/discussion/comment/81881866#Comment_81881866

Actually to quote myself after doing a little more research Interactive Investor will be cheaper for my SIPP.

redux

Apparently HL have contacted selected customers and offered to waive the increase until next year

https://www.investorschronicle.co.uk/content/f59b741e-d45f-44da-ac84-51339209ccc6

[I'm on email list but not an actual subscriber; I don't know if shortened link will be fully readable]

Hargreaves Lansdown has delayed cost increases for a select group of customers until March 2027 after it faced a backlash from high-net-worth and previously loyal users.

The Isa and pension provider had planned to more than triple the annual charge cap for holding shares, investment trusts and ETFs in stocks and shares Isas and general investment accounts (GIAs) on March 1, from £45 to £150.

However, Britain’s largest Isa and pension provider has emailed a small group of its clients offering to postpone the cap increase until the end of February 2027. The company said this was to thank particular clients for their loyalty to the platform.

thingswerentthisbadinmyday

https://forums.moneysavingexpert.com/discussion/comment/81915215#Comment_81915215

So what counts as “Loyalty to the Platform”?

I may not have the largest balances, but I’ve been with them for 12/13 years and have been personally responsible for setting up/transferring accounts for 5 other family members.

And during that time, I’ve had cause (at least in my view) to complain about certain aspects of service (on more than one occasion), but still decided to stay.

Am I not a “Loyal customer” or does the word “Loyalty” necessitate a large £sign???

GeoffTF

https://forums.moneysavingexpert.com/discussion/comment/81915215#Comment_81915215

That artillery is not accurate, of course. There was no custody charge for a GIA. Some of us were given the concession right from the start. Others have been added more recently.

GeoffTF

https://forums.moneysavingexpert.com/discussion/comment/81915243#Comment_81915243

I expect that loyalty counts against you. They will expect that you will stay no matter what.

redux

https://forums.moneysavingexpert.com/discussion/comment/81915243#Comment_81915243

I don't know what counts as loyalty. In my opinion concepts like respect should operate in both directions, and this strikes me as a pretty slow response, and which risks further alienating any non-selected customers who hear about it

For me, I have a lot less than there than I used to. Apart from my own savings there I had transfers in when various investment trust managers closed their own savings schemes, but now there is only about £300 left. I've added £1 cash and can afford the about 9 pence a month fees while I make up my mind for longer term

phlebas192

Last week my wife got a cashback offer of up to £5k for transferring £1m to her ISA. She doesn't have other ISAs to transfer but it includes new cash deposits and it is £200 for £20k so that would cover the next year's fees (there's a tie in to the end of Feb 2027).

Chloe_G

https://forums.moneysavingexpert.com/discussion/comment/81915316#Comment_81915316

Yes, I got that offer as well.

Rollinghome

Mrs R has just transferred out her HL ISA for (the bulk has been with Iweb for years) but didn't get any begging letters from them. We already get the 0.25% concession which is worthless anyway unless investing in funds - it's the caps that determine the cost.

We were just about to transfer out anyway after 19 years with them. There's loyalty and there's stupidity: it's a long way short of the premium company it once was. Their Danny Cox once described it as Waitrose prices for Waitrose service. Don't think even he would say the same now. I'll be transferring out when HL sort out their problems with SSON.