as of 05/04/2019 at 1:51 pm
The biggest and most established of them all, Hargreaves Lansdown looks after about £85bn of investors’ money. Providing a one-stop-shop for shares, funds, Junior ISAs, ISAs, pensions and (coming soon) cash, these guys know their stuff. The phone service is quick, staff are very well trained and it's just good. It can however baffle newer investors and feels a bit old-school and stuffy. If you need help look out for their "multi-manager funds" which are decent pre-packaged options, just pricey.
At 0.45% for admin, plus investment charges, expect to pay about 1.2% all-in. If you’re happy to pay for good service, it’s still fair value. Just not the cheapest. Having said that, lots of people in the finance industry use it as they know it just works. It's a bit like Ocado. Good website, prompt service, polished, tasty, convenient, pricey.
The largest platform for investors, administering over £80bn.
|Minimum amounts:||£25 minimum monthly amount
£100 minimum initial amount for funds; no minimum for shares
|12 month indicative performance:||
A medium risk portfolio (Portfolio+) returned 10.8% in 2017, after charges.
"Where can I get a good Junior ISA?"
Rebeccah, Greater London
27/03/2019Read our reply
"I have had roughly £40k in a Hargreaves Lansdown Stocks & Shares ISA for the past 2+ years, divided into £34k in their Portfolio Plus Balanced Growth and £5k in a mixture of shares I selected myself (£3.5k of that in Lloyd’s). While I am happy to keep the shares element, I don’t feel the managed portfolio is working for me and I could do better elsewhere. Over the 2+ years I am down 1% on initial investment. I would like to move away from Hargreaves Lansdown altogether, as in that period I have paid close to £350 in charges. I also have a separate ISA with Vanguard which is £20k in the LifeStrategy 80:20 which I am happy with. Where would you suggest I could invest the £34k for a better return? I am happy with balanced and some element of high risk. I’m 47, have two primary school age children, & live in central London. I also have a mortgage and a workplace pension. Many thanks."
20/03/2019Read our reply
"Holly has given me some great food for thought before for my son who is in full time employment & a volunteer cop - he is a good lad, aged 21, lives in the smoke of London & is saving to buy a property!!! He has a work-based pension which he contributes 3% to, matched by 3% from his employer. The employer contribution increases to 5 % after 1 yr. Nearly 10k with Nutmeg, 4K + in a Lifetime ISA, the rest in an ISA. If he increases his pension contribution, I have read it may affect the amount he can borrow on a mortgage. Is this correct? Should he take a SIPP out as well & start feeding a small direct debit into it each month, for a few select funds? I am hesitant in advising him to do this because I have read a SIPP is more suited for large deposits, but my thinking is that it is a good way to start learning about investment. I have a SIPP with Hargreaves Lansdown, which is doing ok. Finally, is there any advantage in maxing his Lifetime ISA up in the next financial year (it is a managed one with Nutmeg)? I know that the monies have to be in there for a year to benefit from the 25% but when does the clock start for this please. Thanks so much... Best, Richard & Rory"
06/03/2019Read our reply