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Call Richard Cook: 07770 575 122

email: richard@theinvestmentandretirementcoach.co.uk

Introducing the Hargreaves Lansdown Wealth Shortlist

The new Wealth Shortlist builds on the previous Wealth 50 list with more funds, increased transparency and improved fund updates.

This change was essential after the debacle of leaving the Woodford Funds on the Wealth 150 list long after they should have been removed.

All of the evidence is that Hargreaves Lansdown has learned the Woodford lessons and will never be in that position again. Fund selection/recommendation is never easy, and it would be unrealistic to expect them to always get it right. However with the new processes in place I am satisfied that the Wealth Shortlist deserves to be the primary fund selection tool for my clients.

There are some interesting new funds now that the list has grown from approx. 50 to about 70 funds. No funds have been immediately removed so if you are comfortable with your current portfolio no action is necessary.

There is more information at www.hl.co.uk.  The best place to start if you would like to know more is their frequently asked questions page.  https://www.hl.co.uk/funds/help-choosing-funds/wealth-shortlist/faqs? 

I will be looking at the new funds in some detail over the coming weeks and if I think any are worthy of serious consideration as replacements for existing funds I will issue a further update.
  
My response to the HL request for feedback is to ask them to provide more guidance on replacement funds when funds are removed from the list and to introduce a replacement fund in the same sector. If they cannot find a better fund why remove one?

I will issue a Wealth Shortlist update to all my ” Ongoing Guidance Service” clients whenever a fund is removed which, whilst not providing personal advice, will provide useful guidance/information on how to select a replacement fund.

Whilst I support the changes which have been made I still think it is not easy for anyone to use the Wealth Shortlist without some professional guidance/education. With that in mind, I have recently asked my clients to complete a survey about my existing offering the answers to which will be used to upgrade and improve the ” Ongoing Guidance Service”.

If you are a Hargreaves Lansdown client not currently subscribing to an ongoing guidance service may I suggest that you use this link to book a short Zoom chat so that I can tell you what is involved and you can make up your own mind about how important it could be to you and your money?

 

IMPORTANT INFORMATION
This document and our on going services are not personal advice. We'll give you all the help and guidance you need to make your investment and retirement decisions, but we can't advise you. If you're not sure whether you need regulated financial advice we can put you in touch with a suitably qualified and experienced regulated adviser. Because we are not regulated by the Financial Conduct Authority you will not have access to the Financial Ombudsman Service in respect of any complaints. If you use one of the "no advice" on line services to handle investment transactions they will be Regulated and you will have access to the Ombudsman and The Financial Compensation Scheme in respect of their services. The value of investments/pension plans can fall or rise depending on market performance. The Retirement Team and The Investment and Retirement Coach are trading names of Capture Success Ltd Reg No 01825075 Tel 07770575122

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