Is Hargreaves Lansdown good for investing?
Independent review by Boring Money
Investment expert’s opinion
Hargreaves Lansdown is still good. Reliable, secure and solid. However, the charges for many are high. And the service is just not the cut above it once used to be, so the pressure is on this platform to pull something out of the bag in 2025. That said, for those who hold lots of listed securities (shares, ETFs and investment trusts) it can be both a low-cost AND a well functioning choice.
*This is the view of investment expert Holly Mackay based on her first-hand customer experience as a test account holder. This does not constitute regulated advice. You can read more about Holly's investments here.
Who is Hargreaves Lansdown?
Hargreaves Lansdown was established over 40 years ago in 1981 and today is the UK’s number one investment platform. It has over 1.8 million customers and more than £140 billion in assets. It listed on the London Stock Exchange in 2007 and is a constituent of the FTSE 250 index. Hargreaves Lansdown states that its core purpose is to “empower people to save and invest with confidence” and aims to put the customer at the “heart” of its operations.
Who is Hargreaves Lansdown good for?
Still one of the best all-rounders, but it is pricey compared to peers. Caps on charges make this very compelling for larger accounts who have listed securities. And Junior ISAs are free. It’s also good for Lifetime ISA holders who want to learn with the best. Fees on smaller accounts are not unreasonable value, however, share dealing fees are on the expensive side and the platform charge for fund folders is high.
Pros and cons
Still not quite sure if Hargreaves Lansdown is right for you? We’ve broken down the main pros and cons of investing with Hargreaves Lansdown in the table below. Take a look for a bird’s eye view of the key takeaways.
Investments
Hargreaves Lansdown users can access a range of different investment options, including:
Accounts
Hargreaves Lansdown offers a range of accounts. The table below shows a breakdown of which ones are available and you can scroll down for more information about Hargreaves Lansdown’s ISA, Pension, LISA and JISA.
Stocks & Shares ISA | Pension (SIPP) | General Investment Account (GIA) | Lifetime ISA | Junior ISA |
✔ | ✔ | ✔ | ✔ | ✔ |
Hargreaves Lansdown also offers a Junior SIPP for those who want to start investing for retirement on behalf of a child under the age of 18.
Fees and charges
The cost of investing with Hargreaves Lansdown differs depending on which type of account you have, your invested amount, and the nature and number of transactions you make. The tables below illustrate how the different charges work.
Hargreaves Lansdown ISA and Personal Pension (SIPP) fees
Type | Platform Charge Amount* | Dealing Charge Amount* |
Funds | £0 - £250k: 0.45% | FREE |
Shares | 0.45% | £11.95 |
*A fund platform charge refers to fees charged for holding an investment in funds on the platform. A fund dealing charge refers to the cost of buying or selling a fund.
*A share platform charge refers to fees charged for holding an investment in listed securities (e.g. shares, ETFs, bonds). A share dealing charge refers to the the cost of buying or selling a listed security.
Hargreaves Lansdown LISA fees
HL’s platform charge drops from 0.45% to 0.25% for LISAs. The other charges all remain the same.
Hargreaves Lansdown JISA fees
There are no charges for a HL JISA. Both platform charges and dealing charges are completely free.
See how much it would cost you
Use the handy calculator below to calculate the cost of an account. Just select which type of account you want to use, type in the amount you want to invest and - hey presto! - our calculator will give you an estimate of how much it costs. Please note estimated fees are calculated excluding promotional offers.
Step 1. Select account type.
Step 2. Enter the amount you are looking to invest.
Estimated fees:
£4.50
+ Investment fees
This cost represents the total amount you will pay. It is based on a typical account and will be a very good guide, but may differ depending on the investment option you pick.
The boring disclaimer bit
This is a free resource for our readers. We’ve tried really hard to ensure that these calculations are correct and can promise you there’s no monkey business or favouritism going on. But please don’t rely on these calculations without double checking yourself. If you do think you have seen an error please contact community@boringmoney.co.uk and help us to make this better. More information on the assumptions we've used to calculate these investment fees can be found here.
Customer reviews
Hargreaves Lansdown customers generally think that the website and app is “easy to use” and there is frequent mention of its good customer service, communication, choice of products and information. However, some more negative reviews are critical of Hargreaves Lansdown’s “higher” and more complex fees and its lack of transparency over the Woodford scandal.
Your opinion matters!
Leave a review for Hargreaves Lansdown
01 December 2024
It's charges have increased
01 December 2024
I am very happy with their advice and with their performance
01 December 2024
Polite and informative feel safe with investment not at all pushy
Most asked questions
Is Hargreaves Lansdown safe?
Cash savings with Hargreaves Lansdown are covered by the UK government’s Financial Services Compensation Scheme (FSCS), which guarantees reimbursement up to the value of £85,000 per person in the event that Hargreaves Lansdown fails. Any amount above this threshold is unlikely to be covered. Investments with Hargreaves Lansdown, on the other hand, are not guaranteed - by their nature, investments can and will go up and down in value.
Who owns Hargreaves Lansdown?
Hargreaves Lansdown was co-founded by Peter Hargreaves and Stephen Lansdown in 1981. In 2007, 25% of the company was publicly listed on the London Stock Exchange while the remaining 75% continues to be owned by Peter Hargreaves, Stephen Lansdown, other directors and staff. The stock is now part of the FTSE 250 index.
Can you buy bonds on Hargreaves Lansdown?
Yes, you can buy bonds directly on Hargreaves Lansdown. However, most bonds, gilts and Permanent Interest Bearing Shares (PIBS) can only be dealt with over the phone – for which Hargreaves Lansdown has a phone dealing charge of 1% (£20 minimum, £50 maximum). Some bonds can be dealt online though and are charged at Hargreaves Lansdown’s normal share dealing rates.
Do Hargreaves Lansdown charge to sell shares?
Yes, Hargreaves Lansdown has share dealing charges which you have to pay when you sell UK and overseas shares*, investment trusts, ETFs, gilts and bonds.
The charges are broken down into tiers depending on how many deals you have completed in the previous month:
Deals in previous month | Share dealing charge |
0-9 | £11.95 |
10-19 | £8.95 |
20+ | £5.95 |
There are no charges for online dealing with a Hargreaves Lansdown JISA.
You can read more about share dealing on Hargreaves Lansdown here.
Do Hargreaves Lansdown charge exit fees?
Hargreaves Lansdown do not charge exit fees if you close your account or transfer your funds to another provider.
Glossary
Not 100% sure you understand something we’ve written in this review?
Discover jargon-free definitions of the most common words and technical terms used in the world of investing.
Risk warning
As is always the case with investing, your capital is at risk. The value of your portfolio can go down as well as up and you may get back less than you invest. Tax treatment depends on your individual circumstances and may change in the future.
All information in this review correct as at 01/04/2024.
