Legg Mason has agreed to offer 7,000 clients representing £65m the option to transfer their holdings to Hargreaves Lansdown's Vantage platform after shutting its Legg Mason ISA.
All users of the Legg Mason ISA will be able to make the transfer to Vantage free of charge. ISAs which have not been transferred to the Hargreaves Lansdown Vantage platform or another ISA provider by 15 June or voluntarily redeemed by 30 June will automatically be transferred to Hargreaves Lansdown, remaining in the funds currently held. Legg Mason head of global distribution business Ed Venner said the company is discontinuing the ISA because it does not offer the online capabilities offered by other ISA services. He said: "After careful consideration we have therefore decided to...
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