HL outlines Wealth 50 overhaul after Woodford saga

Adds ex-Schroders John Troiano to board

Hargreaves Lansdown is preparing to make changes to the research process of its Wealth 50 list, after a review of its funds list in the wake of the Woodford liquidity scandal.

The firm, which has around 300,000 clients trapped in the LF Equity Income fund having recommended it as a best-buy, said its customers believed the Wealth 50 was "a positive tool". However, CEO Chris Hill, who described the Woodford saga as "disappointing and frustrating for us and our clients", said Hargreaves had carried out a review of the process and would be making changes. IW Poll Results: Readers reveal Woodford letter not yet arrived Hill said HL would put a "greater focus on transparency of process". "This will include adding more detail, greater transparency and a new st...