View more on these topics

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 


Loney-Phil-Royal London-2013

Royal London to scrap Scottish Life brand

Royal London has confirmed it plans to move all of its UK life, pensions and investment businesses under a single brand. The mutual insurer says the exercise will take two years and will see well known adviser brands such as Scottish Life, Bright Grey and Scottish Provident replaced with the Royal London brand. The firm also says it will […]


Ex-Co-op chief defends ‘misleading’ balance sheet claims

Former Co-op Bank chief executive Barry Tootell has denied accusations by MPs that the bank “sailed too close to the wind” on the amount it held in capital reserves and that it misled the market about its financial position. The Treasury select committee is carrying out an inquiry into the deal to sell 632 Lloyds […]


JP Morgan settles mortgage charges with $5.1bn settlement

JP Morgan has come to a $5.1bn (£3.2bn) settlement with a US regulator over allegations it misled Fannie Mae and Freddie Mac during the housing boom. The bank’s settlement with the Federal Housing Finance Agency is the largest-ever made by a US bank. It is expected to make a separate deal with the US Justice Department […]


Caspar Rock: Life after Woodford in UK equity income

The announcement that Invesco Perpetual’s long-serving manager Neil Woodford will be leaving the company next April to set up his own investment management business surprised the industry. Neil has been at Invesco for over 25 years, managing the High Income and Income funds – a total of £30bn of assets – and serving as head […]

Simon Fletcher

Auto-enrolment: pay attention or pay the price

By Simon Fletcher

As a chief executive officer of a business in the financial services sector, I have been dealing with the introduction of auto-enrolment for our clients for some time, but I can also speak from an employer’s point of view, having to go through the process ourselves.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm