Peter Hargreaves: The $64,000 question for our business

Hargreaves Lansdown co-founder Peter Hargreaves has said his biggest fear is how customers will react to forthcoming changes to the platform's pricing model.

Speaking to Investment Week after the group reported record profits for the year to 30 June, Hargreaves (pictured) said customers' reaction to the changes remains the great unknown for the business. The platform is attempting to secure preferentially-priced clean share classes for the funds it recommends to clients, and said this morning it had achieved better-than-average deals for 68% of funds on its Wealth 150 list. Hargreaves said customers' view of the new unbundled structure concerns him more than the potential for an industry price war. "We do not fear competition or even a ...