Hargreaves Lansdown moves to restricted advice and overhauls charges

Groundwork for telephone-based proposition

Hargreaves Lansdown is to drop the independent status of its financial advisers in favour of going restricted, and is overhauling its charging structure.

The changes lay the groundwork to develop a telephone-based advice proposition and the introduction of a new, simpler tariff for advice, it said. Danny Cox (pictured), head of communications at the firm, added: "In reality investors will see very little change in what we advise over. We shall continue to offer the same broad range of investment advice, including portfolio management, investment and pension advice, retirement planning and inheritance tax mitigation as we do now." The group has also overhauled its charges for restricted advice and for investors using the Portfolio Manag...