Hargreaves Lansdown - your views pls

dllive

I'm thinking about investing through HL as I hear you dont have to pay them commission and at the end of each year they actually give you some money! Is this true? I currently use Funds Network to invest through. What would the advantage - if any - to go with HL? I'ld be interested to hear your experiences/knowledge of HL.

dunstonh

I'm thinking about investing through HL as I hear you dont have to pay them commission and at the end of each year they actually give you some money! Is this true?

For ISAs and unwrapped funds that is correct but not for pensions.

I currently use Funds Network to invest through. What would the advantage - if any - to go with HL?

Slightly cheaper as you would save around 0.1-0.25% a year in charges.

Although you need to be aware that unless you re-register you will be out of the market for a few days whilst the transfer takes place and if the market goes up by say 1% whilst out then it will take you many years to recover that cost, let alone show a profit.

nrsql

You might find a management charge also.

I suspect you can just transfer the funds to h-l and not be out of the market.

The profit Dunstoh is talking about is the profit due to the transfer not profit on the funds.
Note also that if the market drops by 1% then you will have gained many years "profit".

I wouldn't say that this would be a reason to change (but might sway you for any new investments). I've been quite impressed by h-l's customer service and ease of use but you need to check whether that suits you. Have a look at the re-investment of income in particular.

Might be worth trying a small investment first to see if you are happy.

dunstonh

I suspect you can just transfer the funds to h-l and not be out of the market.

Re-register means you dont exit the market. Transfer means you do as its transferred as cash and reinvested.

The profit Dunstoh is talking about is the profit due to the transfer not profit on the funds.
Note also that if the market drops by 1% then you will have gained many years "profit".

Thats habit because its a standard warning message when doing transfers. The sort of warning message you are not going to get with DIY.

If you are going to do it then re-reg makes more sense as you can always fund switch later.

strawberrylane

I have SIPP and ISA accounts with Selftrade, Sippdeal and HL. For me (with my type of investments) HL are definitely the most expensive, but their customer service is way ahead of the other two in my experience. I have been considering moving my accounts away from HL to the other two on grounds of cost but am re-considering that due to recent customer service experiences. I guess you get what you pay for.

lwcus78

I'm thinking of investing also, was asking my dad for advise last night and he uses HL, says they may be a little more expensive but they have good customer service.

Aegis

lwcus78 wrote: »

I'm thinking of investing also, was asking my dad for advise last night and he uses HL, says they may be a little more expensive but they have good customer service.

They're pretty much the cheapest if you use the execution-only service for managed funds. If you're looking for advice or investments in shares, gilts, corporate bonds, investment trusts, ETFs, trackers or similar, you might well find cheaper brokers out there.

srg751

I use SFS invv. direct for brokering through fidelity funds network for my funds. I hav'e'nt found anyone cheaper (it's even cheaper than going straight through funds direct). I use HL for my Sipp (no charge and a glossy brochure!!!

fred_49

I have been investigating consolidating my s&s isa's by moving some from fidelity fundsnetwork to HL .I have been told by Fidelity that the transfers must be in cash and then re-bought and cannot simply be re-registered. Some of the funds I hold in funsnetwork have a buy and sell spread. Does this mean that i will lose this difference if I transfer rather than re-register.

LongTermLurker

dunstonh wrote: »

Re-register means you dont exit the market. Transfer means you do as its transferred as cash and reinvested.

If you are going to do it then re-reg makes more sense as you can always fund switch later.

Just to clarify, on the application form you get the option to "transfer as stock" or "transfer as cash" - you should transfer as stock so it just gets re-registered to HL, and not sold.

Personally I like them. Yes, you get what they call the "loyalty bonus".

Primrose

i've only ever invested with H-L before which I bought all my funds independently so can't comment on whether they're more expensive than other providers. However I've found their service excellent and very prompt and I like the information they provide on their website in the way of funds research. Yes, if you move all yours ISAs into their Vantage Loyalty Scheme, you are refunded every year with a small percentage, the amount of which varies with each Fund provider and is shown on their website under the individual fund information. Obviously if you hold a considerable number of PEPS, ISAs & unit trusts through this scheme, you will earn back a worthwhile amount which is calculated twice a year.