Hargreaves Lansdown has reversed its decision to increase charges for clients who hold investment trusts - a consequence of its new pricing model announced last month - and said it may be open to further changes as it announced a set of record-breaking results.
The group said clients with ITs "will pay no more in future than they do today" after it became clear "this particular aspect of our pricing change had been disliked". Hargreaves had announced previously that investors holding trusts would have to pay a separate holding fee on trusts of 0.45% alongside any charge for owning shares, ETFs and bonds. However today it said this was being scrapped. "For the avoidance of doubt, this means that from 1 March clients will pay no charge for holding any shares, investment trusts, bonds, VCTs, gilts or ETFs in the Vantage Fund & Share Account," t...
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