Displaying items by tag: Hargreaves Lansdown

The number of people who want to retire early has more than doubled during the pandemic from 4% to 10% and more people have clearer retirement plans.

Hargreaves Lansdown has seen the average age of clients drop from 45 to 37 in what it believes is a significant shift in its client demographics, it revealed today in its half yearly results.

A nudge from a pension provider drove three times as many savers to seek guidance during research by the Money and Pensions Service.

Pension savers lost out on £600m last year according to HMRC personal pension statistics released today.

The Personal Finance Society (PFS) has branded the findings of an FCA survey, released yesterday, which showed nearly 50% of pension savers accessed their pension pots in the past 12 months without taking any regulated advice or guidance, “alarming”.

Baillie Gifford, the Edinburgh-based investment management partnership, is to transfer its investment trust savings scheme, including its ISA, Share Plan and Children’s Savings Plan, to Hargreaves Lansdown. 

The firm says that after an “extensive review of its investment trust savings scheme and the service it currently offers to investors, Baillie Gifford concluded that the long-term interests of plan holders are best served by a transfer of their investments to a specialist investment platform”.

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More than 21,000 plan holders representing £1.3bn in funds under management are set to be transferred to the Hargreaves Lansdown platform.

Baillie Gifford selected Hargreaves Lansdown following what it called “a robust and detailed process which focused on quality of service, cost, breadth of proposition and experience of managing account transitions”.

Hargreaves Lansdown offers a wide choice of investment products, Baillie Gifford said, including SIPPs, ISAs and investment accounts and all Baillie Gifford managed investment trusts are available on the platform.



Plan holders are being contacted with further details of the transfer and their options.

During the transition period existing ISA, Share Plan and Children’s Savings Plan investors will be able to add to their respective plans.



Baillie Gifford has agreed with Hargreaves Lansdown the current charging level across all plans will not change for a period of three years from the agreed transition date.

The Baillie Gifford scheme has closed to new investors.



James Budden, director of retail marketing & distribution, Baillie Gifford, said: “The increasing variety, capability and cost effectiveness of investment platforms in the wider savings market has led us to decide plan holders of our investment trust savings scheme are best served by a specialist platform.

“We selected Hargreaves Lansdown for a number of reasons, including its ability to offer efficient access to our entire investment trust range through a broad selection of savings products.”
 
Chris Hill, CEO, Hargreaves Lansdown, said: “As one of the largest supporters of investment trusts we are pleased to welcome Baillie Gifford clients to Hargreaves Lansdown.”

As the end of the tax year approaches Hargreaves Lansdown has predicted a surge in drawdown cash withdrawals.

Men and women will for the first time share the same state pension age of 65 from tomorrow (6 November 2018) marking a major pensions milestone set in train 25 years ago but critics say the change is far from fair to women.

A new survey from Hargreaves Lansdown has revealed that investor confidence is at its lowest for 23 years.  

Pension deductions from pay will treble for more than four million employees from today.