How to select the best fund supermarket Hargreaves Lansdown, one of the biggest players , today hands back 0.25pc on many funds. In other words, it will take £25 off that £170 annual cost. But despite this supposed generosity, selling funds is still remarkably lucrative. Hargreaves" profits have exploded in recent years. Crucially, the operating profit margin disclosed in its last results was 63pc, a startlingly high figure for a FTSE 100 company. Based on profits after tax, the company makes £305 per customer - a hefty premium for holding money. Yes, it has famously good customer service and impressive tools on its website to which you'd gladly give over your Sunday afternoons to play with. But if you don't, and just want lower costs and greater returns, other fund websites are a better bet. To understand why they are cheaper, you need to understand where your money goes when it is handed to a fund supermarket. Let's say you invest that £10,000 again. The fund you pick has an annual management charge of 1.5pc or £150. Usually, half of that - £75 - goes to the fund manager for picking the shares and running the fund. The other half goes to the fund supermarket. Of that £75, £25 is to recognise the cost of hosting the funds and dealing with the paperwork, but the larger part - £50 - is in recognition of the financial advice given. Of course, no advice has been given. Some, like Hargreaves, give back some of this money. Others pocket the full £75. This is all due to change next year. The Financial Services Authority (FSA) is due to finish off what it started in January when it banned independent financial advisers from receiving the 0.5pc commission outlined above, to prevent any chance that it might unduly influence the advice they give. Instead they must now make money by charging clients an upfront fee or by directly taking a slice of the portfolio. The financial regulator has promised to mete out the same treatment to fund-selling websites that, while not giving advice, can be very effective at promoting certain funds. Many of these companies negotiate different commissions with fund managers and some, such as Hargreaves, refuse to disclose what these are. The FSA will announce towards the end of April the detail of the new rules. For those wondering which fund supermarket to use, this creates a dilemma. There are some great offerings out there - but the market is soon to be turned on its head and today's great deals may not be so good after the FSA's changes have been applied, which will probably not happen until April next year. As it stands, the cheapest options are the fund supermarkets that have already embraced the new order - and already hand back all commission they receive. Instead, they make money with fixed charges, which can be particularly beneficial for those with large portfolios. These firms include Interactive Investor and Alliance Trust Savings. Interactive charges £80 a year per customer and £10 per trade, including buying and selling funds. For Alliance, it is a £48 annual charge per Isa and £12.50 per trade, but expect no frills. Alliance has promised to improve its website but for now it remains a Ryanair experience. If you only want to hold funds, Cavendish Online is among the cheapest, handing back most of the commission and applying no dealing charges. Over the very short term, the best deal is a special offer from Fidelity. It is offering to hand back all of its commission - 50pc of the annual management charge. This, in effect, is the same as Alliance and Interactive's deals, but without the other dealing and account fees. The catch - and it's a very large one - is that it is only for a year. Normally, Fidelity keeps all of the annual commission. An online tool set up by a former financial adviser - comparefundplatforms.com - is well worth a visit. One of the other big rule changes will be, fingers crossed, to make switching between these fund supermarkets far easier. In an ideal world, the FSA will outlaw the exit charges that are applied when you transfer. The complexity of all this is exhausting - but it's crucial to the returns you make. The wisest option is probably to sit tight until the changes are clear. My prediction is that companies making fat profits from investors today - those that keep some of the commission - will be under pressure from backers and shareholders to make the same amount in future. That's why the newer, more nimble providers that charge less today will continue to do so from 2014 and beyond. You should gives yourselves a slap on the back. A campaign to stop the Government's assault on retirement income has won the right to a debate in the House of Commons, after an online petition attracted more than 100,000 signatures. When Telegraph Money reported on it on last month, the total stood at 75,000 signatures. It moved to 91,000 and last week our reporting helped pushed the number to 105,000. The Chancellor, George Osborne, will now need to explain why he is removing the tax-free allowance offered to millions of pensioners. For more details, go to telegraph.co.uk/tax. Get the best of the Telegraph's money news and advice emailed to you once a week: Sign up for the money newsletter