Hargreaves Lansdown is to receive assets from BlackRock clients worth up to £90m for an undisclosed fee under a new deal between the two firms.
Up to 4,300 eligible BlackRock investors have been given the option to transfer their holdings in investment trust savings plans and investment trust stock and shares NISA schemes onto the HL Vantage platform, free of dealing charges. BlackRock will continue to be the investment manager for the underlying investment trusts but will no longer provide its investment trust savings plan and NISA wrapper. The 4,300 eligible clients can choose to go elsewhere but, if they do not actively do so, they will automatically be switched to Hargreaves Lansdown. The final transfer to Hargreaves L...
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