Hargreaves ready to respond to potential price war

clock

Platform giant Hargreaves Lansdown has said it is ready for any price war started by rivals looking for a foothold in the direct to consumer market.

In a conference call with analysts following the firm's interim results, chief executive Ian Gorham said while Hargreaves would not slash prices without provocation, it would respond even if it meant a temporary dip in revenues. "If we put down our prices by 20% we wouldn't see a 20% growth in assets. At the moment it's not a particularly price driven market," he said. "But we would compete with anything we need to compete with...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Wrap/platforms

Platform due diligence: A comprehensive approach

Platform due diligence: A comprehensive approach

Due diligence is more than best practice it is ‘fundamental'

Stephen Ford
clock 18 November 2024 • 4 min read
Adviser platform net sales hit £3.1bn despite spike in lump sum withdrawals

Adviser platform net sales hit £3.1bn despite spike in lump sum withdrawals

Assets rose to £683bn in best third quarter in three years

Isabel Baxter
clock 15 November 2024 • 4 min read
Schroders UK Platform Awards 2024: Full list of winners revealed!

Schroders UK Platform Awards 2024: Full list of winners revealed!

See who took home a trophy at last night’s ceremony in London

Professional Adviser
clock 25 September 2024 • 1 min read