The lack of functionality to facilitate an adviser charge is another barrier, but is this enough to justify recommending a more expensive platform elsewhere? The difference in costs outlined above is significant, and the client can always pay the adviser charge directly.
It will be interesting to see whether the advised segment is one it goes after. If it gets the balance right between disruption and supporting advisers, then it could be a successful route for it to take.
Mike Barrett is a consulting director for the lang cat
Key points
Vanguard announced in May its launch into the D2C platform space.
The news knocked 8 per cent off the share price of Hargreaves Lansdown.
A Sipp function will be added at some point in the future.
This article has been amended to correct the mis-typing of an acronym
