Hargreaves Lansdown

sorcerer

I found it interesting today that HL are saying they have won some customer thing from "Which?" on customer satisfaction.


http://www.hl.co.uk/investment-services/vantage-service/which-names-hargreaves-lansdown-recommended-provider-fund-supermarkets


I wonder how they got on Value for Money?


Don't get wrong, I like HL, I just think they are too expensive.

Lokolo

Can you post the results where it says how people rated them value for money?

It was only one of questions asked, so it could for all you know, be quite low for them with the other questions highly rated.

• Customer service
• Administration
• Information on investment opportunities
• Online Account Functionality
• Online Tools and Guidance
• Value for money

I suspect HL got high ratings for at least 4 of those.

xylophone

I suspect HL got high ratings for at least 4 of those.

But would they get them now?

uknick

Hope this is not breaking any copyright rules





Hargreaves Lansdown fund supermarket

Hargreaves Lansdown is the biggest fund supermarket in the UK, with more than 500,000 customers and looking after £45bn worth of their money. It also the first and only Which? Recommended Provider for fund supermarkets.
Founded in 1981, Hargreaves Lansdown has grown to become a FTSE 100 company, making it one of the largest listed firms in the UK. While it does not offer the cheapest service on the market, it has built a reputation for first class customer service and informative research and information about investments.
Hargreaves Lansdown fund supermarket's charges

Annual fee highlights

• Between 0.45% and 0% of your investment portfolio, depending on its size
• Between £5.95 and £11.95 to trade shares and investment trusts online
• Free trading for unit trusts and open ended investment company funds

Good for
If you're happy to pay for a premium service, Hargreaves Lansdown offers solid core services with bells and whistles that are appreciated by its clients. For those with smaller portfolios, Hargreaves Lansdown could cost you £10 or £20 a year more than its cheaper rivals - a relatively small premium if you really value the service.


Expensive for
If you do have a larger portfolio, Hargreaves Lansdown could prove costly. Its fees are calculated as a percentage of your portfolio value, so you could end up paying thousands of pounds a year more than broker charging a fixed fee in pounds and pence.
Hargreaves Lansdown fund supermarket satisfaction


Customer service

Administration

Information on investment opportunities


Online account functionality

Online tools and guidance

Value for money




Table notes:

• Star ratings out of five show levels of satisfaction for each category. Where no stars are showing, it means we could not get a large enough sample size to rate this aspect of the service.

How we calculate these ratings

Our customer scores are based on a survey of an online panel of Which? members. They are calculated using a combination of overall satisfaction and the likelihood of recommending the provider to a friend.

These surveys are carried out every six months and customer scores are updated accordingly. Providers must receive a minimum sample size of 30 respondents to be included in our customer satisfaction tables.

What Hargreaves Lansdown's customers say about it

"The most efficient and responsive customer service I have found from any company, in any industry"
"The excellent service and information helps me make decisions"
"Supremely efficient"
"They offer reasonably fair charges, functionality and a reliable service, marred by slightly over-enthusiastic marketing and a tendency towards hype"
"So far our relationship has been very satisfactory in all aspects. We are now concerned because of the far larger fees we will be charged in future compared to other brokers. We have to decide whether we still think the service is worth the extra"

Lokolo

xylophone wrote: »

But would they get them now?

Wouldn't be surprised. Only 1 of them is to do with costs which is the only thing that has changed in the last few months.

Lokolo

Oh look at that, 5* for 4 of them.

I am surprised Value for Money is 4* though.

xylophone

Only 1 of them is to do with costs which is the only thing that has changed in the last few months.

Administration? Customer service? Anecdotally, (from posts on the board) this seems to have declined - and a relative who remains a customer of HL but is transferring out one account is finding that answers to secure messages are no longer prompt.

That said, as a former customer of HL, I do miss the functionality of the web interface.

Archi_Bald

It also the first and only Which? Recommended Provider for fund supermarkets

Surely you cannot take any publication serious that can only recommend one fund supermarket?

As they state themselves

you could end up paying thousands of pounds a year more than broker charging a fixed fee in pounds and pence

So they would owe it to their readership if they found at least one other recommendation for those people with larger portfolios.

Perhaps none of the other providers pays enough referral money?

vectistim

uknick wrote: »

• Between 0.45% and 0% of your investment portfolio, depending on its size
  

The only way I can get HL to charge me 0% is by leaving.

(I presume someone at Which? has mis-understood the sliding charging scale)

talexuser

vectistim wrote: »

The only way I can get HL to charge me 0% is by leaving.

Best joke of the day!:T

dunstonh

A scoring system rated on feedback is never likely to be ideal. you are likely to have clueless people responding in things that they have no real experience of other than that one company. For example, how many people have experience of multiple platforms? For most, HL will be the only platform they have ever used. Plus, they will have buyer bias.

The most efficient and responsive customer service I have found from any company, in any industry"

It would be very easy to argue that virtually all platforms are way ahead on quality of service compared to the likes of insurance companies.

"The excellent service and information helps me make decisions"

or putting it another way... "I fall for their marketing".

HL are good at what they do. However, the difference between platforms is small. The difference between platforms and insurance companies is vast.