Hargreaves Lansdown

Lokolo

Kavor wrote: »

HL are fine for managed funds. You do need to be aware that there is an additional 0.5% plus VAT annual charge for some of the funds if held within their ISA or SIPP, although it is capped at £200 +VAT per account. This extra charge is clearly indicated on the fund details.

They don't charge for managed funds. Only trackers and ETFs I believe.

Sparky47

Charity_Dalek wrote: »

Thanks, I still can't believe that their are no entry or annual fees.

Any other users out there that would like to recommend (or otherwise) H&L.
Robert

I have been using HL for over 10 years and find them very good, their web site has lots of useful research info.

They make their money from annual commission, although they rebate some of this to you in the form of a loyalty bonus.

cloud_dog

Charity_Dalek wrote: »

Thanks, I still can't believe that their are no entry or annual fees.

HL gain some commission and trail commission but they (like a lot of other brokers) pass it back to the client.

Charity_Dalek wrote: »

Any other users out there that would like to recommend (or otherwise) H&L.

We use HL for the OH SIPP, which also invests in OIECs/UTs as there are then zero charges applied to the managemetn (over and above the small charges the funds make against themselves).

I've been very happy with the service / online website provided by HL. My only bugbear (and this is pretty picky and pretty common across the board) is that I'd really like it if they would allow drip-feeding of money from within the account. Very similar to the normal monthly direct debit approach but to take the money from cash in the account.

Lokolo

Oh you also tend to get a lot of post from them.... but you can opt out.

ScarletBea

I've also got my S&S ISA with HL a few months ago, and I'm happy with their service and costs.

dunstonh

Just for clarification these limits are fund limits not HL specific so would be applicable to any provider.

Not any more. A number of the other fund supermarkets will let you go lower. Cofunds will let you do £100 per fund. Skandia will let you do £1 minimum.

They make their money from annual commission, although they rebate some of this to you in the form of a loyalty bonus.

They also get paid marketing bonuses for promoting funds (recently referred to in the media as fund houses buying shelf space) and an amount for being the platform provider.

If the FSA gets its way, the HL model will have to change and become explicitly charged which would see some charges rise and some drop.

However, at this point in time, they are probably one of the better ones for a DIY investor in funds.

Cardinal-Red

cloud_dog wrote: »

Just for clarification these limits are fund limits not HL specific so would be applicable to any provider.

As Lokolo states for funds HL are considered to be very good with good customer service / web site functionality and information. If, however, you ever want to buy stocks, ETFs, ITs they ar expensive and should probably be avoided.

Is this really the case? Their dealing costs seemed quite reasonable to me on the shares side.

Lokolo

Cardinal-Red wrote: »

Is this really the case? Their dealing costs seemed quite reasonable to me on the shares side.

£0-£500 = £10
£500-£2k = £15

HL ^^

iii = £10 for any transaction.

cloud_dog

Cardinal-Red wrote: »

Is this really the case? Their dealing costs seemed quite reasonable to me on the shares side.

I suppose its horses for courses, some it depends on the amounts and the frequency of trades. My minimum investment falls in to the £2k+ range, so I would be looking at at least £19.95 per trade, and more often than not £24.95 per trade.

As Lokolo points out there are cheaper out there.

purch

...and more importantly better.

HL are not a particularly brilliant Online Broker from my experience. You will usually get better prices and fills from other brokers, and that additional price improvement will/could add up to quite a significant amount over time.

You can't always rate a broker as cheap just based on the headline cost per trade.

Unfortunaately HL fall down on both measures.