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HL new services coming
andy mac
Posted: 21 July 2017 19:16:54(UTC)
#1

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I received a survey from HL

The open paragraph is interesting
quote
Hargreaves Lansdown is launching a new savings service later this year, to help our clients manage and make the most of their cash savings.

In order to help us develop the service further, and understand how our clients might use the service, we'd be grateful if you could answer some questions.
end quote

The then want to say what they wouldnt have at launch cash ISA

also they suggested 1, 2 3 and 5yr investments at standard rates nothing exciting really
They will have to do better
Jon Snow
Posted: 21 July 2017 23:35:32(UTC)
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My old mum got a "survey" from HL today, looked to me like it was after harvesting your investments they don't currently have.

She's got annuities so that's of no interest to HL.

Are HL finding it hard to keep driving up AUM?
North Star
Posted: 22 July 2017 07:27:44(UTC)
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HI have a good website and the service is very good but it comes at a price. When HL tried to increase charges on IT's I moved to Charles Stanley Direct @ 0.25% and haven't been disappointed.
I can understand HI clinging onto 0.45% as most investors are themselves 'passive' but for a platform rather than an investment team they're coining it in my opinion.
Northener
Posted: 22 July 2017 09:08:49(UTC)
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I did not receive this Survey hope to have more Informations here what this about??
Tug Boat
Posted: 22 July 2017 11:55:09(UTC)
#5

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I received this survey two years ago. It proposes an HL deposity type account.

It asks some questions and whether a 0.2% charge would be okay on a 2.5% interest return.

They said the deposit would be spread across a number of banks and that the service would start in the summer.

Looks like they are trotting out the survey again, looking for a more optimistic response.
andy mac
Posted: 22 July 2017 12:22:45(UTC)
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not the same survey
this was about savings and interest rates v length of investment
I completed it before I thought about posting here
My final comment was that the rates were no better than the high st and there was no incentive to use HL over others
Sara G
Posted: 22 July 2017 12:29:57(UTC)
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I haven't received it either... perhaps they are only contacting people with large cash balances int their investment accounts?

I suppose one advantage would be convenience, plus I can see it proving popular with inflation on the rise and more investors stock-piling cash as markets feel more expensive - any interest being better than none.
Stephen B.
Posted: 23 July 2017 11:04:38(UTC)
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They may just send surveys to a random sample of people. I also got the one about assets held elsewhere. Personally I'm hoping they'll have another offer of cashback for transfers given the ridiculous increase in charges by Barclays which will more-or-less force me to transfer somewhere.

On the cash service, I think the attraction would be for ISA and SIPP holdings where you usually get essentially nothing on cash which makes it hard to go liquid if markets seem high.
Tyrion Lannister
Posted: 28 July 2017 00:02:15(UTC)
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If they introduced an interest paying cash account that could be held in an ISA or SIPP, that would be excellent!
P L
Posted: 28 July 2017 09:53:05(UTC)
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There was something I read a few months back that suggested HL were looking at introducing a P2P lending platform which could be the new savings service. I'm guessing it would be akin to Zopa/Ratesetter which appear to the user very much like standard savings produces.

The big difference of course it there is no FSA 75K guarantee with P2P.
I would guess HL would introduce some mechanism to protect investors even if it wasn't 100% much as Zopa and ratesetter do.

Lots of P2P platofrms appear to be having difficulties getting FSA authoriation to operate an ISA.
Jordan Stodart
Posted: 28 August 2017 14:33:41(UTC)
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P L;49302 wrote:
There was something I read a few months back that suggested HL were looking at introducing a P2P lending platform which could be the new savings service. I'm guessing it would be akin to Zopa/Ratesetter which appear to the user very much like standard savings produces.

The big difference of course it there is no FSA 75K guarantee with P2P.
I would guess HL would introduce some mechanism to protect investors even if it wasn't 100% much as Zopa and ratesetter do.

Lots of P2P platofrms appear to be having difficulties getting FSA authoriation to operate an ISA.


New to this thread, but just came across your comment. I'd been speaking with HL months and months ago regarding this, and yes they were scoping a P2P proposition, but shelved it indefinitely around end June. Wanted to focus more on their cash platform.

Just on your point re FCA authorisation for P2P platforms, here's a good resource (link below) for tracking platforms gaining authorisation and, subsequently, launching Innovative Finance ISAs - not sure rules on posting links, but it should be of use!

IF ISA Tracker
2 users thanked Jordan Stodart for this post.
Mickey on 28/08/2017(UTC), Tim D on 28/08/2017(UTC)
PaulSh
Posted: 28 August 2017 15:17:44(UTC)
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There's an article here about HL's new cash product:

www.telegraph.co.uk/pers...m-way-save-cash-forever/

It's paywalled unfortunately, but if you just sign up with The Telegraph you can read one premium article a week.
2 users thanked PaulSh for this post.
Jordan Stodart on 29/08/2017(UTC), Tyrion Lannister on 04/09/2017(UTC)
Tyrion Lannister
Posted: 04 September 2017 23:40:55(UTC)
#13

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PaulSh;50361 wrote:
There's an article here about HL's new cash product:

www.telegraph.co.uk/pers...m-way-save-cash-forever/

It's paywalled unfortunately, but if you just sign up with The Telegraph you can read one premium article a week.


I'm hoping that this will be allowed under SIPP/ISA umbrellas.

Right now I'm really nervous about asset investment of any type and having the option of cash giving some sort of return would be very welcome.
PaulSh
Posted: 05 September 2017 15:03:47(UTC)
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Tyrion Lannister;50748 wrote:
I'm hoping that this will be allowed under SIPP/ISA umbrellas.

Me too. If it was just opening a cash deposit account with a bank from within a SIPP then that's basically up to the bank and the SIPP provider whether they will administer it or not, but of course that means you are getting the interest that they could have earned and so many SIPP providers won't let you do it.

However, it looks like this "open banking" would need to work on a trustee account basis as this then allows HL to take a small cut of the interest and so it's them actually opening the accounts rather than you doing it directly within a SIPP. I really don't know what the implications of that would be.
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