Hargreaves Lansdown - Terrible service

SAHD_Jim

It is now 3.5 hours and my Mother's account now says she has no active HL accounts... :mad:

Hermann

So that's £8.3 bn of the economy on hold whilst HL sort out their IT and find the missing accounts.

Tombola591

Telegraph has an updated article on this. They mention customers are likely to demand compensation. I would think the more people that demand compensation, the more likely it is they are to receive anything.

Customers who were prevented from selling their shares due to Hargreaves' inability to cope are likely to demand compensation.

http://www.telegraph.co.uk/finance/personalfinance/investing/10371756/Hargreaves-Lansdowns-systems-buckle-under-Royal-Mail-share-trading.html

chucknorris

SAHD_Jim wrote: »

My mother is an existing customer. Won't be for long.

I'm sure that they will just about be able to manage and stay in business without your mother's custom.

alanq

One problem will be that not only is there a rush of clients wanting to sell but also there are clients wanting to reinvest/withdraw the funds that were returned from oversubscribed applications for RM shares before the weekend.

Tombola591

chucknorris wrote: »

I'm sure that they will just about be to manage and stay in business without your mother's custom.

Not a great business attitude though? So what if we lose a few existing and potential new customers... They seemed keen to attract new customers judging by their heavily publicised RM application service - staying open late in the last few days, etc. Appeared they were trying to follow the business model of attracting many, many people for RM shares - and whilst most might well be one-offs, some would (maybe not anymore) prove to be good long-term customers.

Tombola591

alanq wrote: »

One problem will be that not only is there a rush of clients wanting to sell but also there are clients wanting to reinvest/withdraw the funds that were returned from oversubscribed applications for RM shares before the weekend.

But why are HL having the worst problems. It appears that most ther brokers are doing fine now (even if a few had small issues earlier this morning). Perhaps HL have more customers than other brokers and perhaps initial problems might be understandable (even if very frustrating for customers) but nearly 4 hours later...?

chucknorris

Tombola591 wrote: »

Not a great business attitude though? So what if we lose a few existing and potential new customers... They seemed keen to attract new customers judging by their heavily publicised RM application service - staying open late in the last few days, etc. Appeared they were trying to follow the business model of attracting many, many people for RM shares - and whilst most might well be one-offs, some would (maybe not anymore) prove to be good long-term customers.

Jesus man chill out, sh*t happens you know, some people on here don't seem to be coping very well with what is a minor problem. I couldn't log in either, so I'll probably wait until Monday, what's the rush it is only about £1k worth of shares.

I wouldn't tend to normally use HL anyway because they charge a holding fee for funds and I prefer low cost ftse trackers so I use fidelity.

StevieJ

Musicman wrote: »

Managed to login and discover I had my accounts back before I was logged off again. Logged in again and accounts have disappeared!!

This is becoming a total farce.

Will now be looking to take my investments elsewhere

Likewise

StevieJ

chucknorris wrote: »

I'm sure that they will just about be able to manage and stay in business without your mother's custom.

Methinks it won't just be his mother though,