Standard Life and Fidelity on the offensive over Hargreaves pricing

Platform giants Standard Life and Fidelity have attacked Hargreaves Lansdown over its new pricing structure following its release yesterday.

The country's biggest D2C platform unveiled its long-awaited tiered pricing structure as it takes steps to move away from its current rebate model post-RDR. However, Standard Life said the platform was relying on existing customer inertia to maximise revenues over the next few years, after allowing clients to remain in bundled funds until the legacy commission ban in 2016. David Tiller, Standard Life's head of adviser platforms, said: "By offering a dual pricing system for existing and new customers, some platforms appear to be prioritising commercial interests over client outcomes. ...