Hargreaves: Scottish independence would hike costs for all investors

clock

Investors in all parts of the UK will face increased costs if Scotland votes for independence, Hargreaves Lansdown has warned.

Responding to queries from clients, the D2C platform giant said if the "yes" vote wins out financial firms will be left dealing with customers in two jurisdictions, more than likely pushing up their operating costs. Hargreaves Lansdown's head of pensions research Tom McPhail said: "Ultimately, if UK financial institutions find themselves having to deal with customers in two different jurisdictions, that is likely to lead to a general increase in the cost of all financial products and services." The firm also suggested Scottish savers and investors may find they are treated as they had...

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 Economics / Markets

Trump's presidency and tariffs: Advice industry shares views

Trump's presidency and tariffs: Advice industry shares views

‘Stark raving mad’ but ‘great’ for US firms

Isabel Baxter
clock 18 February 2025 • 4 min read
Five-fold surge in advisers buying gilts for clients in 2024

Five-fold surge in advisers buying gilts for clients in 2024

AJ Bell finds 436% increase in gilt purchases on its Investcentre

Isabel Baxter
clock 10 February 2025 • 1 min read
Bank of England cuts interest rates by 25bps to lowest level in 18 months

Bank of England cuts interest rates by 25bps to lowest level in 18 months

First MPC meeting of the year

Sorin Dojan
clock 06 February 2025 • 3 min read