The news that Hargreaves Lansdown (HL) will be reducing its platform fees for the first time in ten years has been welcomed and is expected to make competitors rethink their models.
Today (26 January), HL announced that it will be cutting its headline administration fee from 0.45% to 0.35% from 1 March. Share dealing costs have also been reduced from £11.95 to £6.95. The last time the investment platform changed its charges was in 2014. Today's move has been welcomed by industry commentators. Speaking to Professional Adviser, AheadMG wealth & partnerships director Ben Hammond said that HL's headline platform fee reduction will be welcomed by consumers "after many years of seeming 'reassuringly high' but with a level of service and customer loyalty that others ar...
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