Hargreaves Lansdown is planning to secure "as good if not better" terms with fund groups on super clean share classes as Standard Life, after the latter announced it had secured preferential deals with 15 fund providers.
Standard Life said it had secured a 9bps discount on average across a range of super clean share classes it intends to offer to users.
A number of platforms including Skandia have previously said they would expect fund groups to match any deals made with Standard Life - the first to float the idea of 'super clean' share classes.
Hargreaves has already urged groups to "put their best foot forward" on pricing, but today the platform giant told Investment Week it would be looking to get the same terms or better as Standard Life.
Hargeaves Lansdown's head of advice Danny Cox (pictured) said the firm would expect fund groups to at least match the 9bps discount for its revamped Wealth 150 list, if not go further when its pricing is revealed at the end of the summer.
"We are glad Standard Life has got some good super clean terms and we are hoping we will get as good, if not better, terms," he said. "We are hoping to get some very favourable terms on super clean and it is good that Standard Life have been able to get 9bps."
Last month Hargreaves sent fund groups an information pack inviting them to compete for spots on the Wealth list, which could be as small as 30 funds.
In return for preferential deals, the successful funds will form part of Hargreaves' "core range", heavily marketed to clients.
"[The core range] will be a 'best value' and heavily marketed and feted subset of the Wealth 150," the group said.
"This will be our main focus and benefit from preferential, ongoing and intensive distribution across all our available media.
"Hargreaves may raise up to £160m in a single launch campaign for a new fund... over £100m is common for a popular fund," it added.
Responding to Standard Life's announcement, rival Skandia - which has opted to continue with rebates despite the new tax from HMRC - said today its strategy remained unchanged.
However, a spokesman added the group would look to get super clean share classes where they could.
He said: "Where a ‘super clean' share class offers better value to customers, we will add them when they become available."
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