Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

Hargreaves Lansdown (HL.)

  Print      Mail a friend       Annual reports

Thursday 18 November, 2010

Hargreaves Lansdown


RNS Number : 4160W
Hargreaves Lansdown PLC
18 November 2010




18 NOVEMBER 2010

Press Comment

Ian Gorham, Hargreaves Lansdown's Chief Executive said:

"We are satisfied with the outcome of the FSA's platform paper.  The paper recognises the value of services such as those provided by Hargreaves Lansdown, which give clients the ability to access a huge choice of investments at low cost.  At the same time it recognises the aggregation benefits product providers also derive from our services.   The paper contains a number of initiatives which, if properly delivered, should benefit financial services retail clients.  We do not perceive any threat to the Hargreaves Lansdown model from the paper.  As we already offer most of the initiatives proposed by the FSA, such as re-registration, the cost implications for Hargreaves Lansdown should be very limited."

Hargreaves Lansdown provides the following more detailed response:

General overview

·     As an independent company, Hargreaves Lansdown supports the key potential outcomes for the Retail Distribution Review, particularly the provision of unbiased advice and promotion of investment choice.


·     We are satisfied with the consultation paper. There are no elements of the paper that give Hargreaves Lansdown cause for concern.  We do not perceive any threat to the Hargreaves Lansdown model or sources of income.


·     We particularly note that the FSA has concluded platforms may continue to receive remuneration from product providers, recognising the benefits and services provided to these providers.  We also note that execution-only (non-advised) business remains out of scope for most elements of the paper.  We agree with these conclusions.  Non-advised business represents over 85% of Hargreaves Lansdown Assets under Administration.


·     The paper sets out requirements for platforms to meet various administrative standards, such as providing re-registration facilities and information to unit holders.  Hargreaves Lansdown already allows clients to re-register and transfer to other providers. We foresee very limited cost implications for our company from the paper.


·     We also welcome the FSA's intention to focus on more timely transfers of investments in the financial services industry.   The current transfer processes across the financial services industry are often unnecessarily complex and slow - usually when involving outflows from non-platform companies - and cause frustration, cost and uncertainty for clients who are exercising choice over their own investments.


The Future of the Market and Pricing


·     It is possible the platform and advisory marketplace may reshape over the next few years.  The RDR may contribute to this change.  It is impossible for any organisation to predict those changes precisely, but we are confident that a platform of sufficient scale providing a high quality service such as our own shall continue to be successful and grow profitably.


·     Like many, we believe the requirement for adviser charging, coupled with an increasing trend for investors to conduct their own research using widely accessible sources of information may lead to a reduction in the number of Financial Advisers in the UK.  Hargreaves Lansdown sees this as an opportunity to attract further substantial numbers of clients to the high quality, low-cost Vantage service where they can administer their own investments.


·     We note the FSA's comment that they "would be surprised if [annual management] charges were maintained at current levels."  We understand the logic of their expectation of a fall, whilst noting market forces are the key driver of prices rather than regulatory change.  Hargreaves Lansdown has been at the forefront of achieving improved pricing for clients over the years.  However, we wait with interest to see if such changes will occur to the extent FSA envisage.  For example, if the IFA population shrinks, fund managers may need to retain income to finance alternative distribution and advertising strategies.  Therefore they may consider reducing charges, especially in the short term, imprudent.  Hargreaves Lansdown is a highly profitable and well established platform.  Some other platforms are yet to demonstrate their sustainability and do not have the same economies of scale.  The charges some other platforms levy on product providers for their services may need to increase if they are to survive.  Therefore the potential for flexibility in the pricing chain appears uncertain.


·     Assuming the main aspects of the Consultation Paper are adopted into the rules in due course, Hargreaves Lansdown shall watch market developments with interest and react accordingly.  We believe the paper does not currently require any changes to our highly successful business model or our services to clients.

This information is provided by RNS
The company news service from the London Stock Exchange

a d v e r t i s e m e n t