, Columnist
The Folly of Investment Platforms
When Britain’s biggest broker recommends a fund, savers should ask: why?
Another way to pick a winner.
Photographer: Ian Walton/Getty Images EuropeThis article is for subscribers only.
Hargreaves Lansdown Plc, Britain’s equivalent of Charles Schwab Corp., is embroiled in a dispute with Terry Smith, one of the country’s best-known fund managers. The spat illustrates the difficulty — the folly, even — of trying to choose a winning stockpicker to swell your retirement savings.
HL has whittled down its Wealth 150 list of recommended funds to a more exclusive Wealth 50 selection, though the initial roster actually features 60 funds. All those featured have agreed to discount their fees for HL customers, by an average of 30 percent.