Hargreaves attacked for 'secret commissions'-papers

Hargreaves Lansdown has been criticised in a national paper for not fully disclosing its financial arrangements with fund managers.

Writing for the Daily Mail, Richard Dyson said Hargreaves is wrong to keep fees so secret. He said Hargreaves Lansdown is "at a crossroads" with most of its revenue still in the form of commission paid to it by fund managers whose funds it recommends and sells. "This model, especially in a post-banking crisis world where customers are justifiably suspicious of all commission, looks distinctly creaky. All around, in other fields of investment, calls are growing for greater transparency and for an end to secretive payments between companies and intermediaries," Dyson writes. He also ...