Thursday, June 13, 2019 11:05:35 PM
The move further distances Hargreaves Lansdown from Woodford, having historically sold and promoted the investment manager’s funds through its retail investment platform. It had already dropped its platform fees for clients affected by the suspension but is facing further scrutiny by the Financial Conduct Authority and the influential treasury select committee.
The Conservative MP and committee chair, Nicky Morgan, wrote to the Hargreaves boss Chris Hill earlier this week, asking how much money the firm had made in fees from customers who had invested in Woodford’s fund.
At the end of March, Hargreaves’s customers accounted for about £2bn of £10.6bn under Woodford’s management.
As Longfellow95 saiD:TERMINAL
DIFFERENT STROKES FOR DIFFERENT FOLKS
DIFFERENT STROKES FOR DIFFERENT FOLKS
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