Hargreaves Lansdown drops Isa ‘death fee’ and share vote charge

Hargreaves Lansdown has announced a string of changes to its companies, such as dropping its “death” charge for probate valuations


Hargreaves Lansdown, which has more 600,000 investors signed up to its companies, has removed two controversial expenses that had been introduced earlier this year as component of an overhaul of its offering.

The company has removed its ” death charge” for probate valuations, which take place following a buyer has died. The broker charged up to £600 for the service, but this is now cost-free.

The firm also explained it will no longer levy a £12 charge for clients who want to vote at a common meeting.

The broker explained the modifications have been created in response to consumer suggestions.

As nicely as getting rid of these two expenses the broker has also implemented a variety of modifications to increase its online offering, creating more overseas shares accessible and giving on-line bond dealing for the first time. A new stock screening instrument is also set to be introduced, whilst its investment believe in analysis has also been beefed up.

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Hargreaves has also decreased the minimum sum to open an on the internet account from £500 to £100.

Ian Gorham, chief executive of Hargreaves Lansdown, stated: “All improvements make our clientele better off – either financially, by way of entry to a greater services or each. Many improvements have been produced in response to consumer recommendations. The varied nature of the requests we obtain signifies we can’t accommodate them all, nevertheless we do care significantly about all our clientele, and listen very carefully to their feedback.”

This is not the 1st time this 12 months that Hargreaves, founded by billionaires Peter Hagreaves and Stephen Lansdown (pictured), has backtracked soon after introducing a new charge.

The firm announced plans to adjust the way it charges buyers who hold investment trusts, but this was swiftly abandoned in response to consumer suggestions.

The common investor at Hargreaves pays .45pc a 12 months (£45 on a £10,000 investment), plus a separate charge for the sort of investment bought.

We have crunched the numbers to show how Hargreaves’ charges compare with other brokers for distinct sizes of investment, which can be viewed here .

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