13 Dec Reinbeers
It’s that time of year and there are a multitude of Christmas dinners, drinks and crimbo catch-ups going on throughout the city that I like to call reinbeers (geddit?). So much so, that there’s barely any time to do any work. We recently put to bed our Platform Report and our Distribution Report, and although we’d like to start winding down and enjoying the festivities, work has already started on our five-year projections that will be featured in our Q413 issue of the Platform report.
A number of platforms have already contacted us asking for our numbers and our views. The direction of travel is clear and has been since before RDR so we’re always a little nonplussed by the number of ‘stating the obvious’ articles that end up in the press. In the last few weeks there have been lots of stories on the advice gap (yes it exists, and yes, if advisers orphan their clients they end up in the hands of St James’s Place, which is, surprise surprise, growing rather rapidly); fund managers offering lower rates in exchange for for distribution influence (and not distribution facilitation) and of course Hargreaves testing the waters with various pricing options that eventually came to nothing.
How Hargreaves Lansdown prices its platform will be the biggest story of the New Year. Will it stand up to investor scrutiny or will investors abandon the platform in their droves? Until then, we’ll just have to make do with the usual Christmas party gossip…
Have a great weekend everyone.