Weathering the British economy and looking for some way to hold the value of your capital?
Overall, even while HL may not be the most economical option, you get what you pay for, as the saying goes. In this instance, it's an excellent service that is well-known and authorised. It's encouraging to see reputable companies like HL at a time when big banks are disappearing from the high street.
Let’s find out exactly what this award-winning investment firm can offer the average Brit. We uncover it all in this Hargreaves Lansdown review.
Table of Contents:
- 🏛️ Pros and Cons
- 🏛️ Overview
- 🏛️ Interfaces
- 🏛️ Signing Up
- 🏛️ FAQs
Hargreaves Lansdown Review — You’re Not Alone, Here’s Why They Have 1 Million Clients 🇬🇧
PROS
CONS
Hargreaves Lansdown Review - Overview
With somewhere in the range of 1 million clients, when you join Hargreaves Lansdown (HL), you are given the tools to build your own custom portfolio. Assist in the achievement of your financial goals, using a range of investment instruments: stocks, commodities, funds, and more, with reasonable costs.
⭐ We will focus on the HL investing service in this review to see if they can help you make more money with your money. Keep in mind that this service is designed for people who want to take initiative.
The corporate offices of the 1981-founded UK stockbroker Hargreaves Lansdown are located in Bristol, England. They now have control over assets worth billions of pounds, millions of customers, and thousands of workers. They give you quick access to a large range of investment products, together with top-notch market research and straightforward mobile trading software that enables you to keep an eye on your portfolio all the time.
Despite the fees not being among the cheapest you can discover (£5.95 - £11.95 per UK share deal online), the investment options are excellent, giving you access to trade shares on 20 global exchanges. You have two options for managing your money: either you choose from hundreds of high-performance stocks and ETFs (including crypto, which was offered as an ETN in 2017), or you seek investment advice from HL.
Licences and trustworthiness
Hargreaves Lansdown has been assisting clients with asset management and asset selection since its humble beginnings in 1981. They handle funds that total billions of pounds and the protection of your money is their first priority. The FTSE 100 index, on which Hargreaves Lansdown Plc is listed, represents the biggest publicly traded companies in the UK.
I also had no problem at all providing them exposure to my cash because they have been approved and are governed by the proper authorities. Since there should be some security in case something goes wrong, I would always prefer to engage with a brokerage company that is authorized.
Hargreaves Lansdown, which is regulated and is supervised by the Financial Conduct Authority (FCA), is required to adhere to its rules and regulations in order to conduct its investment business. Hargreaves Lansdown Asset Management Limited has been given authorization by the FCA to retain client monies and customer assets.
The FCA has licensed Hargreaves Lansdown Fund Managers Limited to administer UCITS and AIFs, or operations for collective investment in transferable securities (UCITS). According to me, this high-level regulation makes sure HL always does business in an honest and transparent manner.
Territories
Hargreaves Lansdown provides accounts to inhabitants of the European Economic Area and the United Kingdom (EEA). If you’re not a Brit and your country isn’t accepted, feel free to go through our broker recommendations for a new choice.
Transfers
If Hargreaves Lansdown is unable to fulfil its financial obligations, investors who are eligible may submit a claim under the Financial Services Compensation Scheme (FSCS). Although this unquestionably adds to your overall sense of security, I strongly suggest that you read their terms and conditions because they are very thorough. Each claim is handled separately.
Hargreaves Lansdown Review — Interfaces
Platforms
The Hargreaves Lansdown platform is exceptionally easy to use and features a straightforward UI for proactive trading experiences.
The site has more features than any other investing platform I've seen in the UK. It includes a great variety of tools for performing market research and identifying opportunities.
Log in through the HL app or online to access your investments at any time, anywhere. I like how easy it is to manage and access your account using the HL app. I like to periodically review my holdings to determine how the marketplaces are performing and if any modifications are necessary.
Since the HL app uses the same encryption algorithm (used for VPNs) as the HL website, your data and operations are secure with it.
The fact that they made the HL application readily accessible to everyone in my opinion is excellent. Even if you don't have an account with the company, you may still use this tool to access marketplaces, handouts, guidelines, and studies. You may use this to get a feel for how it works and assess whether it meets your needs before establishing a profile. Regrettably, you won't be able to exchange shares, watch live stock prices, or use any stock trading services.
⭐ A few of the HL App's most notable attributes include the following:
- See the status of your account from any location at any time.
- Control holdings and check your history.
- Link profiles provide for central management.
- Trade UK assets and those from Europe, the US, and Canada.
- Free stock prices in real-time for HL customers.
- Make watchlists to keep track of your favourite assets.
- Detailed factsheets on funds and shares.
- Utilize the FTSE 100 and other global and UK indices to follow the markets.
- Read the newest market research and analysis from HL experts.
- For a quick and secure login, use Face ID or a thumbprint.
- The installation process is free for both iPhone and Android.
The broker has access to a plethora of in-depth industry research and analysis tools to help you choose assets and make long-term plans. You may build custom watchlists in addition to obtaining the most current stock markets, market data, news, and expert opinion from HL specialists. While we can’t praise HL’s social trading features, the following are some practical methods to help you raise the value of your shares:
- Turn on real-time stock prices to stay updated.
- Use detailed factsheets and interactive share charts to spot opportunities and trends.
- Utilizing research and skilled assistance, recognise novel investing ideas.
- Use stop loss and limit orders to more effectively control your transactions.
Learning About Markets
If you are new to investing, there is a tonne of material on HL to help you get started. You can also use its more sophisticated tools, such Robo Advisers.
The fact that the information was scattered around the website did make it look a little confusing to me. Even if all of the information is helpful, you could find it difficult to browse. Despite ultimately being able to find all of my questions answered, I regularly got disoriented when attempting to move about.
You have the option to select the investments that are right for you using the Hargreaves Lansdown investment platform. More than 2,500 funds, UK, US, Canadian, and European shares.
To use the Hargreaves Lansdown investment product, choose the assets that are best for you. Among some of the numerous investment products accessible are more than 2,500 ETFs, international shares, Exchange-Traded Funds (ETFs), Venture Capital Trusts (VCTs), bonds, and gilts.
If you wouldn't want to choose assets yourself, an expert may be able to save you time and effort by establishing an investing strategy for you. If you want to exchange CFDs, you might want to take IG into account as a viable option. They provide a broad selection of CFD products, including those for currencies, stocks, and commodities.
- British stocks
- Traded-Deposit Funds
- Trusts for VC funding
- IPOs, gilts & bonds
Fees
Despite the absence of a minimum spend barrier for shares, you should consider handling costs before making a transaction. Your dealing costs are based on the number of deals you complete each month. It costs nothing to open an HL Fund and Share Account, hold cash on hand, do nothing, or hold shares in it.
Your online stock trading fee is determined by how many trades you completed in the month prior. Therefore, the rate you pay in August, for example, will depend on how many share deals you complete in the next month. They take into consideration trades executed across all HL accounts held under the same account number.
Stock trading purchases in the UK start at a reasonable £5.95 and go up to £11.95. There is no transaction fee for purchasing or selling funds, and the total yearly fee is 0.45%. To invest in funds, you'll require a minimal lump sum investment of £100. It is also possible to set up a monthly Direct Debit beginning at £25 for each investment.
Your annual cost will vary depending on whether you hold shares or funds. Read all of the terms on the HL website carefully since there may be circumstances when additional costs are required.
Hargreaves Lansdown Review — Signing Up
Account Choices
Choosing an account is the first step, whether you want to create your own investments or stick with a pre-set one. You can hold investments in any of the flexible accounts, including the low-cost dealing account where you can buy, sell, and store your stock holdings and more in one secure spot.
Whichever account you select will depend on your personal goals. I like how there is an account to suit each person's particular requirements, whether they are trading, saving for retirement, or just getting ready for the future. A useful filter is also provided to assist you in finding the one that best meets your requirements.
- Purchase stocks and shares up to £20,000 (with a £100 requirement).
- A fund and share portfolio is a simple, affordable trading account that allows investing at any moment (minimum £1: open to EAA and British nationals, individuals, companies, investment firms, trusts, and nonprofit organisations).
- Personal trust and savings accounts exist in a wide range of variations.
Creating an Account 🖱️
To make investments, you must first set up an account (that shouldn't take more than a few minutes 💨). You will want to have your debit card plus National Insurance number on hand because you'll need to provide personal data and supporting paperwork for authentication.
Throughout the KYC (“know your customer”) procedures, this occurs regularly. The professional customer service team would be happy to help if you need assistance establishing an account. Once everything is set up, you can use the HL application to handle and keep an eye on your holdings anytime you choose.
What to Expect
You’ll find a trustworthy hotline operated by Bristol-based Hargreaves Lansdown that is always open to address your questions in a timely and efficient manner. I like how the dedicated helpdesk makes managing your assets straightforward and straightforward in an effort to make your fiscal life simpler.
Assistance is provided over the phone and via email. The hours of operation for the investing helpline are Monday through Thursday, 8 am to 7 pm, Friday, 8 am to 6 pm, as well as Saturdays, 9 am to 12 pm. From Monday through Friday, the trading desk is open between 8 am to 9 pm. They need to have a 24/7 live chat option for online mobile text help!
I appreciate that the website offers a list of frequently asked questions (FAQs) that addresses many of the inquiries individuals have regarding their accounts, platforms, and other subjects in addition to professional customer service.
As for funding, the easiest and most practical way to fund your Hargreaves Lansdown profile is through electronic debit card transactions. You can use a bank transfer or relocate your present investment into them without incurring a charge. They can call your provider on your behalf and set up your transfer, but you may want to check out if they impose departure fees.
The expenses associated with using particular payment methods might be evaluated. Remittance requests are dealt with on the same day, or the next day following if they come in late hours. The withdrawal period may vary depending on the method and cash source. Bank transfers, in contrast to some other methods, could take a few working days to process.
No online payment options are accepted right now. I think if they implemented online payment systems like PayPal and Skrill, they may advance and attract more modern investors. They are, in my opinion, tremendously useful for quickly and easily transferring money around. Visit eToro if you're looking for other funding choices. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Hargreaves Lansdown Review — FAQs
Can beginners use Hargreaves Lansdown? 🇬🇧
In terms of accessibility. They are substantially more affordable for smaller pots thanks to the tiered fee structure, and they also provide a fair degree of information and tools to aid you in navigating the online investing process and making sensible investment decisions. These are the primary explanations for why they are appropriate for newbies.
How reliable is Hargreaves Lansdown?
Hargreaves Lansdown is a fantastic choice for investors with pots under six figures who are looking for a wide range of investing opportunities; however, they do tend to become more pricey for larger pots, mostly due to their percentage charge.
But owing to their Active Saver Account and because they rank as one of the rare investment platforms that provide access to a financial advisor (read more: What do Financial Advisors do?) should you need one, even novice traders may now obtain this degree of support.
How much is Hargreaves Lansdown?
This question does not have an easy solution because expenses for each individual will vary depending on a variety of factors.
Contrarily, Hargreaves Lansdown charges 0.45% of the value of each trade, which can mount up for larger pots that could perform much better with a fixed fee like Interactive Investor. According to my research on Hargreaves Lansdown, their fund and bond expenses were below the average industry, while their online fees were around average.
Will Hargreaves Lansdown go bankrupt?
Although theoretically possible, you are protected in the event that Hargreaves Lansdown fails. Because all client funds are held in separate accounts as well as all client shares are held in nomination accounts only with the client named as the benefactor, you can deal with pretty strong confidence.
Hargreaves Lansdown Review — Overall
Hargreaves Lansdown, among the leading brokers in the UK. It’s won awards and gives you a large range of excellent investment options, and powerful tools that make getting started easier than ever.
You can choose from a variety of flexible account types; there is something for everyone. I think it's advantageous that they provide a range of accounts since you can combine your ISAs, savings, pensions, and investments.
The HL mobile and web platforms are easy to use. They provide some great learning tools to assist you learn more about trading and guide you in making informed decisions. Customer care agents are kind, helpful, and prompt.
No matter if you are beginning a portfolio, buying your first stock, or actively trading. You get access to everything you need to trade, do analysis, and monitor your holdings. all in one secure place.
If you intend to trade CFDs, you must go somewhere else. I have not seen any cheaper stock or ETF expenses. Despite the fact that I believed there weren't many funding options, this wasn't a deal-breaker. Although I think the website's usability should be improved easier, I wouldn't be discouraged from signing up nonetheless.
Hargreaves Lansdown provides a very thorough service overall. They have offered their clients financial advice ever since 1981. They appear to be a fantastic choice for anyone looking for a hassle-free investment with easy access to markets.
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