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Hargreaves Lansdown Review

as of 07/06/2019 at 2:46 pm

Holly's View

6 June - there has been lots of adverse press about Hargreaves this week. Much of this feels like noise and sour grapes. The research team had a fund in their preferred lists which has performed poorly. HL has been arguably slow to react and possibly naive. To suggest that this fund was backed because of any kickbacks is just plain silly. The service and heritage of HL remains strong. It's a great business, which has made a mistake, is certainly on the pricey side but still one of the very best with brilliant service. I see no need for any knee jerk reactions. Worth monitoring their multi-manager funds. More tomorrow in my blog.

Our Rating

Recommended For

Confident Investor

In a nutshell

Excellent service

Established company

Too pricey for larger portfolios

You Say

Your overall rating

Based on 369 reviews

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What to Expect

Investment Choice

Products

Stocks and Shares ISA

Junior ISA

Lifetime ISA

Investment Account

Pension

Investments available

Own brand funds

Funds from other groups

Stocks and shares

Investment help

Robo advice / ready-made portfolios

Help building a portfolio

Includes a shortlist of investments

Pick your own funds

Pick your own shares

The 'Geeky' Details

Provider details

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.

Important Facts & Figures

Provider Size:

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.

Your Questions

"My husband and I are in our mid-30s and are completely new to investing. We have over £100,000 split between our two cash ISAs. As we are intending on purchasing a house in the next 5 years, the majority of our savings will be used for a deposit. However, we would like to make a long term investment (minimum 10 years), so are intending on putting £10,000 each in a Stocks and Shares ISA, as well as an ongoing £500 each a month. We're happy with some risk i.e. 6-7/10. Whilst we know this might be a tad trickier, we're really keen on investing in ESG funds/companies only. As we'll have a Stocks and Shares ISA each, we're not sure how best to 'diversify' and whether that's even possible given we want to make ethical investments? Would it be better if one of us uses a robo-adviser and the other a traditional platform? For one to go for an active and the other a passive approach (although I'm not sure if there is an ethical index)? Should one go higher risk than the other? Any guidance would be appreciated, Emma"

Emma, Herefordshire

13/06/2019

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"I have about £100,000 invested in an ISA with Investec Click and Invest. They are closing their Click and Invest accounts and I have to find somewhere else to invest the money. Which are some providers of a similar nature, i.e. a managed ISA fund, preferably ones which can be set up and monitored online? I am considering either medium risk or high risk accounts."

Michael, Surrey

10/06/2019

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"My children are 17 and 20, and for the last couple of years I have been putting £50/month for each into a pension with Hargreaves Lansdown - so they now sit at about £2,500 each. In light of the costs of investing highlighted on this website, should I 'twist' and move to something like Vanguard, with lower charges, or 'stick' and stay-put as I like HL as a platform (perhaps this is not the place for sentiment)? Also, alternatively would I actually be better to indirectly fund both in a Lifetime ISA instead?"

Stuart, Cambridgeshire

06/06/2019

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