Hargreaves to move to clean fee share classes

Peter Hargreaves, executive director of platform giant Hargreaves Lansdown, has revealed the business intends to move all its clients over to clean fee share classes to meet regulatory changes.

Hargreaves, head of the country’s biggest D2C platform with assets under administration of £26.3bn, said he expects the FSA to move towards a commission-free world, but added his business needs clarity from the regulator before it can implement changes. “Eventually we would like to get all clients onto clean fee share classes,” he told Investment Week. “We have plans to treat all clients in the same way, as we believe [the FSA] will draw a line under legacy business.” Investment Week revealed last week the regulator has been holding informal discussions with key industry players ab...