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Hargreaves Lansdown plans corporate wrap

Hargreaves Lansdown is developing a corporate wrap account to be launched in the spring which will build on its Vantage platform service.

The Corporate Vantage service will be developed from the existing individual investor proposition and bundled for the employee market.

In November, Money Marketing revealed Hargreaves Lansdown would be launching a workplace Isa or an equivalent tax-free savings vehicle to complement personal accounts. Hargreaves is developing some of the investment options specifically to meet the needs of the employer market.

The current Vantage service offers investors Sipps, Isas, fund and share accounts and cash options.

Over the past six months, Friends Provident, Axa and Standard Life have all announced their intention to launch corporate wraps.

Head of pensions research Tom McPhail says: “The Corporate Vantage service is being developed for launch next spring. It will build on our existing Vantage platform, taking the highly successful individual investor proposition and bundling it for the employer market. We will also build on to this our existing employee communication support programme.

“We are in the process of developing some of the investment options specifically to meet the needs of the corp- orate market. We are also looking at some of the supporting website functionality which employees will be able to use to help manage their savings accounts.”

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