Hargreaves cuts minimum investment level as it targets lower net-worth clients

clock

Hargreaves Lansdown is reducing the minimum investment required to open an account from £500 to £100 in a bid to entice low-value clients.

In a revamp of its Vantage platform, the firm is also waiving a number of other fees, including probate charges, corporate action charges and the fee for transferring between accounts on the platform. "All improvements make our clients better off - either financially, through access to a better service or both," said CEO Ian Gorham. "Many improvements have been made in response to client suggestions. "The varied nature of the requests we receive means we cannot accommodate them all, however we do care greatly about all our clients, and listen carefully to their feedback, identify t...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Wrap/platforms

Q4 rounds off 'tough year' for platform as inflows disappoint

Q4 rounds off 'tough year' for platform as inflows disappoint

Worst quarter since Lang Cat’s records started in 2016

Jenna Brown
clock 01 February 2023 • 2 min read
Moneyfarm launches 'platform as a service' for M&G

Moneyfarm launches 'platform as a service' for M&G

&me platform for 'next generation of clients'

Jenna Brown
clock 31 January 2023 • 2 min read
Advisory platform evolution: Going in-house for greater control

Advisory platform evolution: Going in-house for greater control

The promise of tech has not been fulfilled in retail investment

Tim Sargisson
clock 25 January 2023 • 3 min read