letters

letters

Wrap charges

Peter Hargreaves, managing director, Hargreaves Lansdown Sir It is perhaps a good job Peter Hicks's article (p28 Investment Week, 1 Dec) 'Are wrap accounts the next big thing?' is not regulated by the FSA. To quote Hicks: "Re-registration means an investor with, say, a Jupiter fund originally bought directly from the investment house is able to move it on to a supermarket without charging the investment, without having to sell and buy back transactions, with no additional charges, no fees and no penalties." Well, neither Jupiter nor Hicks' eventual masters Fidelity will allow that transa...