Hargreaves urged to end 'anomaly' that could put off wealthy clients

Hargreaves Lansdown has been urged to end a pricing 'anomaly' that could otherwise mean wealthy clients miss out on the benefits of its new pricing structure.

The platform - which yesterday unveiled its unbundled pricing structure - has introduced a tiered system which will see clients pay an annual fee based on the assets they hold in each account. The first band - clients with £0-£250,000 in a product (a SIPP or ISA for example) - will pay 0.45% annually to use the Vantage platform, with the next band - £250,000-£1m - paying only 0.25%. However, what may have been overlooked by users is that this is per account, not per user. If a client has £150,000 in an ISA and a further £150,000 in a SIPP, for example, they will not benefit from th...