Blow for investors as Hargreaves cut cash interest rates

iStock_000015237111XSmallSavers and investors holding cash with Hargreaves Lansdown, the UK’s biggest direct to consumer platform, will see interest rates cut by at least 50% from next month. From 10th August, investors who hold Cash on the Hargreaves Lansdown Vantage Platform will see interest rates cut from 0.1% to 0.05% on balances between £7,000 and £50,000. For balances in excess of £50,000 the interest rate will be cut from 0.25% to 0.1%. Quoted on Citywire, Danny Cox of Hargreaves Lansdown defended the cuts, saying: ...

SIPPs: Avoid the mistake 45% of SIPP owners are making

New research from Investec Wealth & Investment has highlighted that many SIPP (Self Invested Personal Pensions) investors are failing to use the full functionality available to them. Amongst other things the research showed: Only 37% of SIPP investors said they had enough time to devote to the running of their SIPP Only 45% of DIY investors understood the charging structure of their SIPP provider 15% of DIY SIPP investors said they were likely to appoint an adviser within the next year Initially appealing Need ...

Investments: Alliance Trust increase charges

Alliance Trust, a favourite of DIY investors, have increased its charges on their Stocks & Shares ISA (Individual Savings Account) in a move that many financial experts believe is a direct result of new FSA (Financial Services Authority) rules to be bought in at the start of 2013. Retail Distribution Review The Retail Distribution Review, or RDR for short, will come into effect from 1st January 2013 and will stop platforms, such as Alliance Trust, taking payments from investment funds. At present many investment funds pay part of the Annual Management Charge, which is paid by investors, back to the platform. The ...

5 tips for choosing the right deposit account for your SIPP

Choosing the right deposit account for your SIPP can be a tricky and time consuming task. We produce what we believe is the most comprehensive table of ‘sippable’ deposit accounts and we have a wealth of experience in this area. Having seen an increase in the number of enquiries recently for deposit accounts in SIPPs we thought we would put our experience and knowledge to good use with five tips for choosing the right deposit account for your SIPP. 1. Type of accounts As with personal accounts there are a range of deposit accounts for SIPPs available, offering options from instant access ...