Hargreaves Lansdown dumps independent advice; overhauls charges

The changes lay the groundwork to develop a telephone based advice proposition and allow the introduction of a new, simpler tariff for advice, it said. Going restricted Hargreaves said in a statement that it believes that by restricting the advisory service it offers it will be able to improve the advisory services it offers, simplify its fee tariff and remove the minimum portfolio size for advice. As independent advisers it must research investments that clients rarely hold, including ones it has deemed overly complicated, opaque, expensive or carry excessive investor risk, it sa...