Hargreaves rules out taking marketing fees from fund groups

Hargreaves Lansdown has ruled out the prospect of taking marketing fees from fund groups or allowing advertising on its website, saying it wants to offer a 'transparent' fee structure when new regulations are implemented next year.

In its final rules for platforms, published earlier this year and due to come in to force on 1 January 2014, the Financial Conduct Authority left open the possibility for fund groups to make marketing payments to platforms and pay platforms to run adverts. But the country's largest D2C platform - headed up by chief executive Ian Gorham (pictured) - told Investment Week it has no plans to do either, and instead wants to focus on securing 'super clean' share classes so it can have a competitive overall cost of investing to offer to end users. Adrian Lowcock, senior investment manager at...