Charles Stanley hits out at Hargreaves over platform transfer charges

Charles Stanley Direct has criticised Hargreaves Lansdown over the cost of its platform transfer charges after the country's biggest D2C platform delayed its shift to a new pricing structure.

Hargreaves chief executive Ian Gorham said earlier this week that the platform is under "no pressure" to move early in its transition to a new pricing model. In response, Rob Hudson (pictured), head of Charles Stanley's own D2C platform Charles Stanley Direct, said: "It is no surprise that Hargreaves Lansdown are experiencing little pressure in the transfer market given the extent of the exit fees that they charge to move off the Vantage Platform. "It is also unsurprising that Hargreaves do not wish to convert clients to clean share classes given the enormity of their legacy book." ...