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

Why the lead-up to the Budget may have been worse than the Budget itself

Why the lead-up to the Budget may have been worse than the Budget itself

What Rachel Reeves and Dr Evil have in common

Laith Khalaf
clock 13 November 2024 • 4 min read
Bank of England meets expectations with 25 basis point rate cut to 4.75%

Bank of England meets expectations with 25 basis point rate cut to 4.75%

'Continued progress' on disinflation

Valeria Martinez
clock 07 November 2024 • 2 min read
'Budget will be a reset for our economy' Reeves tells IMF colleagues

'Budget will be a reset for our economy' Reeves tells IMF colleagues

Autumn Budget on 30 October

Linus Uhlig
clock 24 October 2024 • 2 min read