ashtondav
Member of DD Central
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Post by ashtondav on Jun 29, 2017 9:28:15 GMT
Might be embarrassing for them if it takes money away from their existing product range. Not at all. They currently charge nothing for holding shares in their S&S ISA accounts (well a very small annual charge - £45), and 0.45% for holding funds. At 1% (i.e. Zopa), they'd make shedloads more money. If I were them I'd pitch the offer at Zopa core and Zopa+ Rates. Or adopt the bondmason approach. Surely they won't build a totally new platform, although the wording does imply that. wifey and I have several hundred k in HL ISAs. We'd move a substantial chunk of that if we could get 6% on 5 year money. If they pitched it at current RS rates I wouldn't touch it with a barge pole and my strategy would be to open new ISAs with Zopa+ Or even transfer out of hl and into Zopa. edit. Just noticed how old this story is! I won't hold my breath for the launch...
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rick24
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Post by rick24 on Jun 29, 2017 19:56:39 GMT
Might be embarrassing for them if it takes money away from their existing product range. Not at all. They currently charge nothing for holding shares in their S&S ISA accounts (well a very small annual charge - £45), and 0.45% for holding funds. At 1% (i.e. Zopa), they'd make shedloads more money. If I were them I'd pitch the offer at Zopa core and Zopa+ Rates. Or adopt the bondmason approach. Surely they won't build a totally new platform, although the wording does imply that. wifey and I have several hundred k in HL ISAs. We'd move a substantial chunk of that if we could get 6% on 5 year money. If they pitched it at current RS rates I wouldn't touch it with a barge pole and my strategy would be to open new ISAs with Zopa+ Or even transfer out of hl and into Zopa. edit. Just noticed how old this story is! I won't hold my breath for the launch... Better not hold your breath...rumour is they're going to cancel.
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Post by stevefindlay on Jul 1, 2017 7:02:33 GMT
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fp
Posts: 1,008
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Post by fp on Jul 1, 2017 12:49:43 GMT
I'm not at all surprised to hear this, having discussed it with someone from HL last year, many people within the organisation weren't too enthused about getting involved with something which is still "unproven" so to speak, i.e. it hasn't run a full cycle of boom to bust and back again.
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am
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Post by am on Jul 1, 2017 15:39:34 GMT
I was hoping that HL might give cost-effective SIPP access to the P2P asset class - non-S&S SIPPs have too high running costs for me (since I don't necessarily want to give up my final salary pension), and I don't particularly want to increase my S&S, which is already over 60% of investable assets. So I'm a little disappointed by this announcement, though my hope might not have been borne out anyway. I suppose I could stick P2P Global shares into a SIPP.
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james21
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Post by james21 on Jul 1, 2017 19:15:08 GMT
HL are not going to be involved with PtoP any time soon, its not in their interest. Their business is about making a profit from services they provide and fees they charge for them, they would not be competitive against true PtoP platforms
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