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

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
Fidelity and Abrdn among firms joining new investment platform trade body

Fidelity and Abrdn among firms joining new investment platform trade body

Platforms Association launches amid growing regulatory scrutiny

Valeria Martinez
clock 23 September 2024 • 2 min read