Hargreaves' Gorham: We will not scrap exit fees until FCA tightens transfer rules

Nick Paler asks Hargreaves Lansdown chief executive Ian Gorham how the UK’s largest platform is navigating the new pricing environment

Hargreaves chief executive Ian Gorham speaks to Nick Paler about why the platform is standing firm on exit fees, its legal battle with HMRC, and the grey area between execution-only offerings and advice.

This year looks set to be a big year for platforms, as the end of commission payments and a switch to clean pricing dominates group's agendas. Nowhere has this major upheaval been felt more keenly than at Hargreaves Lansdown, the country's largest D2C platform. With old, private deals between platforms and fund groups now dragged into the spotlight for all to see, Hargreaves' pricing announcement in January was pivotal for the future of not only its own business, but also asset managers, who need distributors on side to ensure flows to their own funds. For Hargreaves' chief executi...