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Hargreaves Lansdown: Vast majority of fund groups will offer us deals

Chief executive Ian Gorham says currently around 80 per cent of assets go into preferential deals.

Hargreaves Lansdown expects the vast majority of fund managers to offer the platform preferential deals but refuses to say whether funds offering market rates will be excluded from its Wealth panel. 

Hargreaves will reveal the smaller list of preferred funds within the Wealth 150 by the end of the year with the proposition set to launch in early 2014.

Speaking at The Platforum annual conference in London last week, Hargreaves chief executive Ian Gorham said: “I would expect the vast majority of fund groups to offer us preferential deals. Currently 80 per cent of assets by volume go into these deals in one way or another so statistically fund groups are more likely to do it when it comes to the crunch.”

Asked whether funds without preferential deals will appear on the Wealth list, he said: “Off the top of my head I do not know and that is something for our research department.”

The Platforum managing director Holly Mackay says: “I believe firmly big platforms which drive sales should get better prices for their customers but the communication of what representation on these preferred lists means is key.”

Click here for all the news from last week’s The Platforum conference 

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