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  • FIRST POST
    • mjsmike
    • By mjsmike 14th Jun 19, 10:35 AM
    • 12Posts
    • 3Thanks
    mjsmike
    Hargreaves Lansdown or another better option?
    • #1
    • 14th Jun 19, 10:35 AM
    Hargreaves Lansdown or another better option? 14th Jun 19 at 10:35 AM
    I am nearly 64 and I have 2 small pensions pots worth about 40K. Which I want to use to fund my lifestyle till I get to 66.
    My plan was to transfer to HL Take 25% tax free.
    Keep 75% in cash fund to draw down over the next 2 years until I get my state pension at 66
    My only current income is 1K a year from a very small PPF pension
    I have sufficient saving and another pension once I get to 66
    I had more or less decided to go with HL but recent negative Woodford and HL press reports have made me reconsider my options. Any ideas comments?
Page 1
    • Albermarle
    • By Albermarle 14th Jun 19, 10:42 AM
    • 1,582 Posts
    • 1,023 Thanks
    Albermarle
    • #2
    • 14th Jun 19, 10:42 AM
    • #2
    • 14th Jun 19, 10:42 AM
    but recent negative Woodford and HL press reports have made me reconsider my options. Any ideas comments
    Recent events are only that HL are quite pushy in marketing certain funds and in this case the fund did not do very well, so some egg on face.
    This will have no effect on the many small and larger users of the HL platform.
    The only problem with HL is that they are more expensive than others but the service is good.
    • xylophone
    • By xylophone 14th Jun 19, 10:55 AM
    • 31,458 Posts
    • 19,493 Thanks
    xylophone
    • #3
    • 14th Jun 19, 10:55 AM
    • #3
    • 14th Jun 19, 10:55 AM
    The only problem with HL is that they are more expensive than others but the service is good.
    Since the OP wants to transfer and stay in cash, he'll find them very cheap..

    HL are very efficient with regard to the PCLS and don't charge to hold cash or for drawing down the income.

    recent negative Woodford and HL press reports have made me reconsider my options.
    Irrelevant to what you want to do?
    • dunstonh
    • By dunstonh 14th Jun 19, 10:59 AM
    • 98,597 Posts
    • 67,050 Thanks
    dunstonh
    • #4
    • 14th Jun 19, 10:59 AM
    • #4
    • 14th Jun 19, 10:59 AM
    I had more or less decided to go with HL but recent negative Woodford and HL press reports have made me reconsider my options. Any ideas comments?
    What exactly has Woodford's recent events got to do with HL's platform?

    Yes, they overpromoted him in their marketing list but they are not advisers and don't tell you where to invest. Their platform is completely unaffected by Woodford. The only issue HL have is that it highlighted their failures in their marketing list. Plus, Woodford's funds are present in some of their own-brand cash cow funds. But they are not a fund you are going to use. So, really not an issue
    Last edited by dunstonh; 14-06-2019 at 2:11 PM.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • ColdIron
    • By ColdIron 14th Jun 19, 12:12 PM
    • 5,442 Posts
    • 7,471 Thanks
    ColdIron
    • #5
    • 14th Jun 19, 12:12 PM
    • #5
    • 14th Jun 19, 12:12 PM
    Since the OP wants to transfer and stay in cash, he'll find them very cheap..
    Originally posted by xylophone
    Indeed, they will even pay up to 0.15% on that cash which is more than most SIPPs
    • AnotherJoe
    • By AnotherJoe 14th Jun 19, 12:26 PM
    • 16,021 Posts
    • 19,221 Thanks
    AnotherJoe
    • #6
    • 14th Jun 19, 12:26 PM
    • #6
    • 14th Jun 19, 12:26 PM
    Recent events are only that HL are quite pushy in marketing certain funds and in this case the fund did not do very well, so some egg on face.
    This will have no effect on the many small and larger users of the HL platform.
    The only problem with HL is that they are more expensive than others but the service is good.
    Originally posted by Albermarle
    Not for cash. They are very cheap for cash. Possibly free even.

    I had more or less decided to go with HL but recent negative Woodford and HL press reports have made me reconsider my options. Any ideas comments?
    Originally posted by mjsmike
    The issues to do with some HL funds and all Woodford funds are quite literally irrelevant to you as someone 100% in cash. They dont affect you at all.

    Dont forget to add 2880 every year for your free money.
    Last edited by AnotherJoe; 14-06-2019 at 12:31 PM.
    Please dont criticise my spelling. It's excellent. Its my typing that's bad.
    • mjsmike
    • By mjsmike 14th Jun 19, 12:34 PM
    • 12 Posts
    • 3 Thanks
    mjsmike
    • #7
    • 14th Jun 19, 12:34 PM
    • #7
    • 14th Jun 19, 12:34 PM
    Many thanks for the feedback. I do not understand all the implications of Woodward issues but headlines such as "Woodford contagion spreads to third fund: Hargreaves pulls 45m out of Income Focus after it shifts towards smaller firms" on the this is money website made me concerned. As well as several articles in The Daily Mail. I know that bad press can sometimes ruin a company's very good reputation and also that HL share price was down.
    • coyrls
    • By coyrls 14th Jun 19, 12:38 PM
    • 1,258 Posts
    • 1,378 Thanks
    coyrls
    • #8
    • 14th Jun 19, 12:38 PM
    • #8
    • 14th Jun 19, 12:38 PM
    Do you check the share price of your broadband provider?
    • Dazed and confused
    • By Dazed and confused 14th Jun 19, 12:38 PM
    • 5,388 Posts
    • 2,860 Thanks
    Dazed and confused
    • #9
    • 14th Jun 19, 12:38 PM
    • #9
    • 14th Jun 19, 12:38 PM
    As well as several articles in The Daily Mail
    Known for their 100% accurate reporting of all subjects.
    • mjsmike
    • By mjsmike 14th Jun 19, 1:05 PM
    • 12 Posts
    • 3 Thanks
    mjsmike
    Do you check the share price of your broadband provider?
    Originally posted by coyrls
    Only if I was planning to move 40K to them
    • dunstonh
    • By dunstonh 14th Jun 19, 2:14 PM
    • 98,597 Posts
    • 67,050 Thanks
    dunstonh
    Many thanks for the feedback. I do not understand all the implications of Woodward issues but headlines such as "Woodford contagion spreads to third fund: Hargreaves pulls 45m out of Income Focus after it shifts towards smaller firms" on the this is money website made me concerned. As well as several articles in The Daily Mail. I know that bad press can sometimes ruin a company's very good reputation and also that HL share price was down.
    Originally posted by mjsmike
    Income focus didnt suffer the issues that Income fund did. Indeed, the Income focus fund should have been the "mainstream" one as it didnt have the tail of illiquid holdings.

    People have been pulling out of Woodford funds because of name association. However, in the majority of cases, the money would just divert to other funds.

    HL fell in value because of reputational damage. Many investors that use HL are low knowledge and HL plays to that market. If that market stops trusting HL's marketing, it could hit their profits.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • coyrls
    • By coyrls 14th Jun 19, 4:13 PM
    • 1,258 Posts
    • 1,378 Thanks
    coyrls
    Only if I was planning to move 40K to them
    Originally posted by mjsmike
    So how would the share price affect your decision?
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