Home Business News Hargreaves Lansdown boss rejects bonus over Woodford saga

Hargreaves Lansdown boss rejects bonus over Woodford saga

by LLB Reporter
17th Jun 19 3:29 pm

Chris Hill, chief executive of Hargreaves Lansdown has turned down this year’s bonus due to Neil Woodford’s investment company saga.

Hargreaves promoted Woodford Equity Income Fund through their services who are aimed at non-professional investors and savers.

Hill said, “Until investors are able to access their money held with Woodford Equity Income, I will not be taking a bonus.”

Lansdown also waived all their fees they charge customers who invest into the Woodford fund.

Hill previously said, “I would like to apologise personally to all clients who have been impacted by the recent problems with the Woodford Equity Income Fund.

“We all share their disappointment and frustration. Our priority right now is to support our clients and keep them informed.

“Our aim remains to provide the best possible service and choices to allow people to manage their investments simply and effectively.

“The shortcomings of one fund should not detract from the benefits of favourite fund lists like the Wealth 50.

“We are confident in the robustness of how we analyse, research and compile our favourite fund list with a focus on ensuring best value for clients; nonetheless, we are reviewing this specific situation to ensure we learn from it and address it for the benefit of our clients going forward.”

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