Hargreaves shares will take off post-RDR - Liontrust's Cross

Liontrust's top performing fund manager Anthony Cross has backed Hargreaves Lansdown's shares to surge after the final rules around platforms and RDR are released.

The country's most famous wealth manager has seen shares tumble sharply in the past year as concerns about its business model's viability post-Retail Distribution Review continue to dog performance. The group is currently remunerated via rebates from fund managers in return for distribution of their products, in the same way as other platforms, with Hargreaves' Vantage platform taking a share of the AMC. However, with increased transparency after RDR come in, investors have panicked over how the firm will maintain its margins. Shares dropped last August after the FSA confirmed it p...