Business is booming.

Hargreaves Lansdown data push raises regulatory questions


Hargreaves Lansdown is pushing UK regulators for a freer hand to use big data to target customers with personalised messages as the investment platform steps up efforts to guide clients in their investing decisions.

The UK’s largest investment platform said the “rigid boundary” that defines regulated financial advice is making it harder to deploy newly-developed data tools to help its 1.6m customers with more general guidance which doesn’t qualify as formal advice.

But, coming in the wake of City mis-selling scandals, the push will revive questions about whether investment platforms already have too much sway over their customers without the accountability that comes with offering formal financial advice.

The Financial Conduct Authority in December published details of an overhaul of consumer protection standards setting out new draft rules designed to raise the “standard of care” at financial firms and increase scrutiny of practices including marketing tactics that lead clients towards unsuitable options.

Hargreaves is calling on the FCA’s review to look again at the boundary between advice and guidance. Anne Fairweather, Hargreaves’ head of government affairs and public policy, said: “The advice/guidance boundary gets in the way of our ability to engage our clients using targeted messaging and guiding them to better outcomes.”

The firm wished to use in-house information drawn from customer investment patterns. “The power of data hasn’t yet been fully harnessed here — more could be done to support consumer understanding.”

Other forms of recommendations from the platform to its clients have prompted criticisms of Hargreaves in the past. The platform’s influential “best buy” funds list was blamed by disgruntled clients for encouraging to them to buy the former star stockpicker Neil Woodford’s doomed fund before it collapsed in 2019.

Hargreaves Lansdown has stepped up its “investor education” efforts this year after adding a record 233,000 new customers in the year to June, according to its most recent annual report. Rival investment platforms have also enjoyed a bumper year, as many savers had more cash and free time to devote to investing during Covid-19 lockdowns.

But the same period also produced a sharp rise in speculative investments, including cryptocurrencies and “meme stocks” such as GameStop and AMC.

Some Hargreaves clients also took on more risk. The platform saw elevated numbers of new clients buying just one stock, and trading frequently, as well as longstanding clients “panic selling” triggered by pandemic news.

“We saw some of the poor behaviours that we had identified really accelerate during Covid,” said Nadeem Umar, who leads the platform’s content team.

Investment platforms already put out reams of consumer-oriented content from blog posts to email newsletters and online videos.

Hargreaves has taken its efforts a step further by investing in “big data” capacity and staffing up its team of data scientists to develop more personalised suggestions.

The funds supermarket said it wants the FCA to take a more flexible approach to policing the border between advice and guidance, so it can do more to personalise the information it sends to clients.

The FCA said it was open to new ideas. “We recognise that firms need to navigate the boundary between advice and guidance . . . We are open to innovation in the advice market and have supported a number of firms that wish to test new ideas before coming to market.”

The regulator said it was looking at how to make sure customers get financial advice and support with their investments as part of its latest consumer investments strategy, launched this year.

However, watering down the advice versus guidance boundary could add risks for self-directed investors. “The problem with guidance, even if it is ‘targeted’, is that it pushes all the risk and responsibility for investment choice on to the customer,” said Anthony Morrow, chief executive of financial advice service Open Money.

“There is no comeback on the platform for . . . unsuitable guidance,” he said.

Hargreaves’ data system works by assigning each customer a personal score for their level of diversification and for investment risk. Using these numbers, the investment platform can identify clients falling into certain investment traps — such as holding too much in one stock or taking on excessive risk — in real time.

It can then target them with timely email or pop-up warnings in the company’s mobile app. One such warning talked about the dangers of “hot stocks” during Covid, Umar said.

Umar stressed that Hargreaves does not want to become an investment nanny state. “We are not taking away people’s right to choose. They can opt out or ignore it.”

Source link

  1. Vuximo says

    levofloxacin online cost levaquin 500mg

  2. Qhraue says

    dutasteride generic ondansetron 4mg for sale order zofran 4mg sale

  3. Snvjyb says

    aldactone 100mg without prescription cost aldactone 100mg buy diflucan pills

  4. Vramkv says

    buy ampicillin 250mg buy cephalexin 250mg online cheap buy erythromycin 250mg pill

  5. Kzfcms says

    fildena 100mg price order methocarbamol pills robaxin without prescription

  6. Ujwoyk says

    sildenafil drug buy estradiol 1mg sale estradiol online order

  7. Ldohhn says

    lamotrigine 50mg drug order vermox generic tretinoin brand

  8. Bzkuol says

    tadalafil 20mg oral tadacip 20mg oral brand diclofenac 50mg

  9. Cwdrff says

    isotretinoin over the counter amoxil medication azithromycin us

  10. Fvqtbv says

    order indocin 75mg online purchase terbinafine pills amoxicillin uk

  11. Zcbwba says

    buy cialis 40mg without prescription over the counter ed treatment sildenafil citrate 50 mg

  12. Dcovlo says

    buy anastrozole 1mg sale arimidex 1 mg cost purchase sildenafil pills

  13. Bokapj says

    deltasone 5mg brand buy prednisone 40mg pill genuine viagra

  14. Lyrruh says

    original tadalafil rezeptfrei sicher kaufen original cialis 10mg rezeptfrei sicher kaufen viagra 50mg kaufen für männer

  15. Irtusl says

    order provigil 100mg for sale buy provigil 200mg online cheap order acetazolamide 250 mg for sale

  16. Bjtwas says

    order doxycycline 200mg online order doxycycline pill buy lasix 40mg online cheap

  17. Sulbrb says

    altace 10mg drug buy azelastine 10 ml for sale azelastine usa

  18. Prxlcl says

    catapres 0.1 mg over the counter cost clonidine 0.1 mg buy generic tiotropium bromide 9 mcg

  19. Qpoetl says

    purchase buspirone buy buspirone 10mg oxybutynin usa

  20. Nltojp says

    brand terazosin 1mg buy arava without prescription azulfidine for sale

  21. Armvcq says

    buy fosamax 35mg generic order alendronate 35mg pill famotidine for sale online

  22. Njquik says

    purchase olmesartan without prescription divalproex generic acetazolamide sale

  23. Uzrhrd says

    order prograf pills order urso pill buy ursodiol generic

  24. Jukvgf says

    isosorbide 40mg drug generic isosorbide 40mg buy generic telmisartan 80mg

  25. Igirqf says

    order zyban online cheap zyban 150mg without prescription seroquel 100mg without prescription

  26. Pziudr says

    molnunat online generic prevacid 15mg order lansoprazole 30mg online cheap

  27. Saxsrf says

    order generic zoloft 100mg Buy cheap viagra now cialis viagra sales

  28. Jjkqtx says

    salbutamol 100mcg without prescription pantoprazole medication generic viagra 50mg

  29. Noyxiv says

    cheap cialis for sale fluoxetine 20mg sale viagra us

  30. Ybutxb says

    order cialis 5mg pills buy generic symmetrel amantadine over the counter

  31. Panaxr says

    buy naltrexone 50mg without prescription buy femara pill abilify 20mg over the counter

  32. Iyhoyl says

    oral avlosulfon 100 mg allegra order online aceon us

  33. Huaogv says

    purchase medroxyprogesterone praziquantel without prescription purchase cyproheptadine generic

  34. Xxxgzk says

    buy provigil for sale online pharmacy non prescription drugs ivermectin 3 mg pills for humans

  35. Qxyeqd says

    luvox order ketoconazole ca order glipizide 10mg generic

  36. Glugvt says

    generic piracetam 800mg viagra 50mg brand buy viagra for sale

  37. Snfttg says

    order azithromycin 500mg pills prednisolone cheap buy gabapentin 100mg sale

  38. Idrdsz says

    order cialis 40mg generic viagra 50mg cheap oral viagra 100mg

  39. Iijfwo says

    buy lasix 100mg hydroxychloroquine 200mg us order plaquenil 400mg without prescription

  40. Jveqjh says

    tadalafil 20mg canada purchase clomipramine without prescription buy clomipramine sale

  41. Lrqbtb says

    chloroquine for sale online purchase cenforce for sale olumiant drug

  42. Qsbkrg says

    sporanox price itraconazole 100 mg pills tinidazole 500mg for sale

  43. Gblnwa says

    glucophage uk metformin 500mg price cialis 5mg brand

  44. Jwpbbq says

    order zyprexa 10mg generic valsartan 80mg tablet diovan cost

  45. Alwwuz says

    clozaril over the counter buy dexamethasone 0,0,5 mg order decadron

  46. Npnhtx says

    order sildenafil 100mg for sale over the counter viagra lisinopril 2.5mg cost

  47. Nudlbj says

    order prilosec online order research paper online free roulette

  48. Fkonkl says

    cheap linezolid real money online casinos usa gamble poker online

  49. Fxrwlj says

    metoprolol drug purchase levitra online cheap levitra without prescription

  50. Fiohyv says

    write my cover letter for me best online blackjack free slots online

  51. Isctnu says

    order vardenafil 10mg online cheap medrol 8mg tablet medrol order online

  52. Ptsphm says

    write paper online buying a term paper order sildenafil for sale

  53. Vwdrsb says

    buy clomid online cheap generic clomid legitimate online slots for money

  54. Dycngh says

    goodrx cialis sildenafil citrate 50 mg sildenafil usa

  55. Ztmaav says

    aristocort drug claritin without prescription order clarinex online

  56. Ptfwld says

    priligy 60mg usa brand cytotec 200mcg synthroid 150mcg tablet

  57. Ykejhv says

    order tadalafil 20mg for sale order generic tadalafil 20mg sildenafil cheap

  58. Ilnupo says

    cialis 10mg usa cost propranolol plavix cost

  59. Aqdodj says

    tadalafil 5 mg tablet order inderal 20mg pill brand plavix

  60. Idtzga says

    zyloprim 100mg oral zyloprim 300mg generic zetia 10mg oral

  61. Bgirax says

    motilium 10mg uk cheap motilium order flexeril 15mg generic

  62. Aejrtx says

    buy cozaar 25mg generic purchase cozaar sale order topamax 100mg sale

  63. Xmxlud says

    order ozobax pills toradol over the counter oral ketorolac

  64. Xlskrd says

    purchase sumatriptan sale levaquin for sale dutasteride for sale

  65. Ricdhp says

    buy colchicine 0.5mg empire casino online best casino online

  66. Otphxo says

    generic zantac 300mg generic mobic celebrex pill

  67. Xkmldm says

    play poker online free no sign up blackjack vegas free online games online casino roulette

  68. Freasj says

    buy tamsulosin pill buy aldactone 100mg generic aldactone generic

  69. Ihqamy says

    cheap cialis sale cipro 500mg pills order cipro 1000mg without prescription

  70. Qvqynu says

    buy simvastatin online cheap purchase propecia online cheap oral proscar 1mg

  71. Aodqgn says

    brand flagyl 400mg order generic bactrim order bactrim for sale

  72. Ydvlfr says

    cheap keflex 500mg order cephalexin 125mg generic erythromycin 250mg oral

  73. Milcbw says

    viagra pill brand sildenafil cialis 10mg canada

  74. Ocitud says

    cost ceftin 500mg buy cefuroxime generic methocarbamol cheap

  75. Nylqxi says

    pay for assignments australia writing paper online stromectol xr

  76. Apfsgt says

    sildenafil tablets sildalis for sale online cost lamotrigine 50mg

  77. Uyzbfj says

    order prednisone pills amoxicillin 1000mg drug order amoxicillin 250mg for sale

  78. Dilwbl says

    oral viagra 50mg order tadalafil 40mg for sale cheap tadalafil for sale

  79. Antiof says

    hollywood casino tadalafil drug order tadalafil 5mg generic

  80. Aeqsgs says

    generic zithromax 500mg zithromax 250mg sale neurontin 600mg oral

  81. Xjenqk says

    online casino for real cash blackjack vegas free online games modafinil us

  82. Rmyodt says

    order lasix 100mg online plaquenil 200mg drug order hydroxychloroquine

  83. Ptiyxw says

    brand sildenafil 50mg sildenafil usa buy budesonide

  84. Nidcba says

    purchase retin online cheap cost avana 200mg avanafil price

  85. Vmyfjz says

    tadalafil canada indocin 50mg price purchase indomethacin generic

  86. Fjluda says

    purchase terbinafine pills purchase amoxicillin pills trimox 500mg drug

  87. Lydakh says

    clarithromycin drug order catapres buy antivert online

  88. Plrllk says

    buy naproxen generic naprosyn online prevacid order online

  89. Sqydil says

    order spiriva 9mcg for sale oral hytrin terazosin over the counter

  90. Veylwp says

    order albuterol 100 mcg pill buy cipro online buy cipro 500mg online

  91. Jyomum says

    pioglitazone drug purchase actos pill order sildenafil without prescription

  92. Kxxwnr says

    order montelukast 10mg pill viagra 100mg uk viagra 100mg cost

  93. Uokwzx says

    cialis india blackjack online for real money play casino online

  94. Fszfcq says

    order generic cialis 10mg purchase tadalafil tadalafil 5mg us

  95. Iuhjgc says

    online black jack real casino slots poker games online

  96. Ptduyo says

    buy ivermectin 3mg dapsone 100 mg us order dapsone 100mg for sale

  97. Oegblk says

    casino online games for real money free online roulette hollywood casino online

  98. Esrbhx says

    adalat 30mg usa generic perindopril fexofenadine for sale

  99. Hauvtp says

    betfair casino online red dog casino academic writing services uk

  100. Opxyvp says

    purchase altace sale altace brand arcoxia 120mg us

  101. Fnssuo says

    where can i buy a research paper leflunomide 20mg usa sulfasalazine 500 mg brand

  102. Famecr says

    buy doxycycline 100mg doxycycline ca buy clindamycin online cheap

  103. Wircsa says

    cost benicar 20mg buy calan 120mg generic buy divalproex 250mg without prescription

  104. Mcgrea says

    asacol online order irbesartan price avapro 150mg usa

  105. Coempu says

    purchase clobetasol sale temovate order order amiodarone 200mg generic

  106. Mgprdv says

    oral diamox 250 mg azathioprine brand order azathioprine 25mg

  107. Tsqudz says

    order digoxin pills micardis 20mg pill molnunat 200mg cost

  108. Rywuqv says

    brand amoxil 1000mg oral stromectol ivermectin 12mg pills for humans

  109. Swpunh says

    buy carvedilol 25mg generic brand coreg 25mg elavil 10mg for sale

  110. Wlyvbg says

    order dapoxetine 60mg generic avanafil 200mg cheap purchase domperidone online cheap

  111. Qvodnl says

    pamelor pills buy generic nortriptyline 25 mg order paroxetine 20mg pills

  112. Iccalv says

    purchase indomethacin generic indomethacin 50mg cost cenforce cheap

  113. Swngfn says

    buy famotidine pill buy tacrolimus 1mg generic buy remeron 30mg without prescription

  114. Osjlen says

    doxycycline canada buy medrol without prescription methylprednisolone 4mg online

  115. Mewkhy says

    purchase requip without prescription buy rocaltrol 0.25 mg generic order trandate 100mg generic

  116. Dbhxfq says

    buy tadalafil 20mg online tadalafil 20mg without prescription cost trimox 250mg

  117. Lecozh says

    purchase fenofibrate pills fenofibrate 160mg us sildenafil without a doctor’s prescription

  118. Ebnvwm says

    order esomeprazole for sale biaxin 250mg tablet buy lasix 40mg generic

  119. Yiobcm says

    cialis super active Generic cialis next day shipping oral viagra 50mg

  120. Eljdtw says

    minocin order online oral terazosin 1mg order terazosin

  121. Dobfyo says

    tadalafil liquid Generic cialis buy ed pills

  122. Kehitk says

    order metformin 500mg pill order verapamil 120mg without prescription tamoxifen cheap

  123. Gtaazg says

    modafinil 200mg price stromectol 12mg cheap cheap promethazine

  124. Kumlio says

    clomiphene for sale order lipitor 40mg online cheap prednisolone 5mg for sale

  125. Srykhm says

    buy isotretinoin 10mg generic order ampicillin sale buy ampicillin 250mg sale

  126. Apflmj says

    best pills for ed pregabalin 150mg cheap propecia 5mg tablet

  127. Pshlwr says

    stromectol uk buy generic prednisone oral deltasone

  128. Nzbsbd says

    cheap ondansetron 4mg amoxil tablet order bactrim pills

  129. Ioxliv says

    order generic absorica buy zithromax 250mg pill buy azithromycin pill

  130. 드라마카지노 says

    This is really interesting, You are a very skilled blogger. “드라마카지노”
    I’ve joined your feed and look forward to looking for more of your wonderful
    post. Additionally, I’ve shared your site in my social networks

  131. 강남오피 says

    Good post. I learn something new and challenging on sites I stumbleupon
    Hi, I do think this is an excellent blog. I stumbledupon it ???? I am going to
    come back once again since I book marked it. Money and freedom is the
    best way to change, may you be rich and continue to help others.

  132. Rxttkl says

    buy prednisolone 20mg sale order generic gabapentin buy lasix online cheap diuretic

  133. Hxqtqy says

    order provigil 200mg pills order provigil generic buy metoprolol 50mg without prescription

  134. Ttyrbe says

    order dutasteride pill purchase orlistat online cheap orlistat medication

  135. Pdtjwq says

    monodox over the counter buy vardenafil 20mg without prescription purchase zovirax pills

  136. Ncszdl says

    azathioprine 25mg drug order naproxen 500mg online cheap buy naproxen 500mg for sale

  137. Uexjfv says

    order inderal 10mg pills buy coreg generic buy coreg 25mg online cheap

  138. Kamfvp says

    generic oxybutynin 2.5mg brand oxybutynin 5mg trileptal pills

  139. Pvrtyz says

    simvastatin 20mg for sale order promethazine pill sildalis tablet

  140. Ceebgj says

    avlosulfon us order asacol 800mg pill order atenolol sale

Leave A Reply

Your email address will not be published.