Fidelity undercuts Hargreaves as pricing war hots up

Fidelity has undercut Hargreaves Lansdown with its new pricing structure, introducing an AMC of 0.35% for clients with total assets up to £250,000.

The group's personal investing platform - which already has around 300,000 clients - today moved to challenge Hargreaves' supremacy in the D2C space with its new pricing. The AMC of 0.35% for clients with up to £250,000 falls to 0.2% if an investor has between £250,000 and £1m, with no tiering of the price so the investor only pays 0.2% on the whole portfolio if they fall into that bracket. It has left share dealing costs untouched, at £9, but fund dealing is also free of charge. In the all important fund space, Fidelity said it has secured some active funds for as little as 0.2%....