OMGI transfers ISA service to Hargreaves Lansdown

Sixth company to transfer ISA business to HL

Old Mutual Global Investors (OMGI) is to transfer £63m of ISA accounts to Hargreaves Lansdown in 2018 as it concludes its current service no longer meets the expectations of investors.

OMGI said it will be withdrawing its administration service for ISAs with effect from 27 February 2018 and intends to carry out a bulk transfer of its ISA customers to Hargreaves Lansdown with effect from 24 February 2018. This represents approximately 3,200 retail clients with around £63m in ISA AUM, while OMGI is also offering investors the option to move investment accounts to Hargreaves Lansdown so they can hold all their investments in one place and benefit from the other services. BlackRock to transfer IT Savings Plan and NISA client assets to Hargreaves Lansdown The group s...