xTitanic
12 Jan 2015
Re: Fidelity trumps Hargreaves HiWhen HL came out with their high fund fees of .45% I decided to transfer out. Not wanting to pay the £25/line I made a formal complaint to HL about the exit fee. My complaint was that it was against the TCF aspect that financial service providers should follow as it put an artificial barrier against free movement. HL wrote back and said they would waive the charge (about 25 funds). Check back 9 months on this board - there was some discussion about it.At the very least if I would raise a formal complaint through HL's complaint procedure, taking it to ombudsman if necessary. At least make them earn their fee.Good luckX
Ripley94
03 Jan 2015
Re: Fidelity trumps Hargreaves Can you explain that xTitanic ( re TCF )I have transferred out they want £1000.£25 per line no cap on it.They would not negotiate.
xTitanic
31 Dec 2014
Re: Fidelity trumps Hargreaves no fund exit fees on switching.Thats good, although exit fees are against TCF as it puts an artificial barrier on customers leaving. Thats what I argued with HL and got them waived.
Kingel
31 Dec 2014
Fidelity trumps Hargreaves Fidelity has struck back in the investment platform price war launched by Hargreaves Lansdown last week with a new set of tariffs that appear to undercut its rival and which it says are more transparent and simpler to understand.Like Hargreaves and other stock brokers and fund supermarkets, Fidelity has been to told to 'unbundle' its pricing structure by the City regulator. Instead of paying for investment platforms through the annual management charge on their funds, investors must now pay two main charges: a fee to the platform and a lower 'clean' AMC on their funds. Single platform fee beats Hargreaves ...Fidelity Personal Investing, which offers access to more than 2,000 funds, has declared a single platform fee starting at 0.35% a year for people with up to £250,000 on its platform. This is cheaper than the 0.45% unveiled by Hargreaves. In an important difference from Hargreaves, once an investor passes the £250,000 threshold the rate falls to 0.2% on the entire account. contrast, Hargreaves will charge its lower tier of 0.25% only on the money above £250,000.And Fidelity's service fee applies to all money held on its funds supermarket. This is another difference to Hargreaves, which has been attacked by some investors for hitting them with multiple fees linked to whether their money is held in an ISA, Sipp (self-invested personal pension) or a general investment account.Mark Till, head of Fidelity Personal Investing, insisted there would be:•no additional product fees for ISAs and Sipps; •no charges for changing funds; •no charges for dealing by paper or by phone; •or requesting paper valuations; •no exit fees if customers switch to another platform. All this marks Fidelity out from its Bristol-based rival, whose customer booklet listed 73 separate lines of different charges, including fees for paper valuations and higher exit charges starting on 2 June'The defining point is how much money you have with us, not whether it is in a Sipp, ISA or general investment account,' Till (pictured) said.However, there is not so much difference between the two on the treatment of shares and investment trusts. Investors holding these on Fidelity's ShareNetwork currently pay £5.10 a month and a flat £9 per trade. This is similar to Hargreaves, although last week it angered investment trust holders by placing them in a separate product category outside shares, meaning that some customers holding shares and investment trusts will pay two sets of fees, capped at £45 for trusts held in an ISA and £200 if in a Sipp. Holders of Fidelity's five investment trusts can count them towards their total balance on the funds supermarket, however, which will help some to get the lower 0.2% platform rate. But fund charges bit higher than HargreavesOn fund charges, however, Fidelity looks to be slightly less price competitive than Hargreaves. The average annual management charge (AMC) of the 140 funds in its Select List (the equivalent to Hargreaves' Wealth 150) is 0.64% whereas Hargreaves claims to have negotiated 0.54%.The overall effect of the two charges leaves Fidelity and Hargreaves broadly matched, both charging 0.99% a year for investors buying funds from their recommended lists.'Spat' between expensive providersJustin Modray of Candid Money, the platform comparison website, denied this was a price war as beating Hargreaves's platform fees was not difficult for Fidelity and that its 0.35% still looked expensive compared to smaller, cheaper providers. 'This is more a spat at the more expensive end of the market. Investors who want to use the Fidelity platform would likely be better off accessing it via discount broker Cavendish Online for 0.25% a year.' 'However, Fidelity is likely to prove cost effective versus the competition for smaller Sipps, thanks to no additional annual Sipp fee,' he added.Modray also praised Fidelity for not locking in customers with exit pena
xTitanic
20 Dec 2014
Re: Why have funds with HL. now only advantage with HL is fund trading is free or if you have very small value porfolio.
frankies1
20 Dec 2014
Re: Why have funds with HL. now Whoops ,wrong thread should be on afren..
frankies1
20 Dec 2014
Re: Why have funds with HL. now That makes sense ,then sell Kurdish assets to genel
Ripley94
26 Nov 2014
Why have funds with HL. now Since the new regulations came in what is the advantage of having funds with them.it now seems your better to switch to the unbundled funds. where there is no loyalty bonus .They have introduced higher charges then if you go directly with the fund manager.Am i missing something ?
