Hargreaves eyes exclusive rights to sell funds

Hargreaves Lansdown is asking smaller fund groups to offer their products exclusively through the discount broker, as part of a round of fresh price negotiations.

Last month Investment Week revealed Hargreaves had contacted groups with plans to reduce its high-profile Wealth 150 fund list down to as low as 30 funds, in a bid to stimulate competition for places. However, Hargreaves is also exploring other business models, and is planning on increasing the number of funds which are only available to its own customers. Currently it has just one index tracker which it can exclusively offer to clients. "What we are saying to the fund groups is we want them to put their best foot forward in terms of price," said head of advice Danny Cox (pictured). "...