Hargreaves: Scottish independence would hike costs for all investors

clock

Investors in all parts of the UK will face increased costs if Scotland votes for independence, Hargreaves Lansdown has warned.

Responding to queries from clients, the D2C platform giant said if the "yes" vote wins out financial firms will be left dealing with customers in two jurisdictions, more than likely pushing up their operating costs. Hargreaves Lansdown's head of pensions research Tom McPhail said: "Ultimately, if UK financial institutions find themselves having to deal with customers in two different jurisdictions, that is likely to lead to a general increase in the cost of all financial products and services." The firm also suggested Scottish savers and investors may find they are treated as they had...

To continue reading this article...

Join Professional Adviser for free

  • 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 Economics / Markets

More than half of IFAs feel negative about a potential Labour govt

More than half of IFAs feel negative about a potential Labour govt

Advisers favour Conservatives when it comes to their clients and business

Isabel Baxter
clock 09 May 2024 • 2 min read
Elections and advice: Planning in political and legislative uncertainty

Elections and advice: Planning in political and legislative uncertainty

‘It should not be based on speculation, always plan on current legislation’

Isabel Baxter
clock 08 May 2024 • 3 min read
'Discussion-worthy stuff': Chinese assets under pressure

'Discussion-worthy stuff': Chinese assets under pressure

China has an 18% share of global GDP and only a 3% MSCI ACWI weighting

Chris Justham
clock 02 April 2024 • 2 min read