Hargreaves lansdown?

mookev

I regularly receive emails and brochures from Hargreaves lansdown. I currently have lots of savings in cash ISAs (nationwide) and non isa savings accounts and am considering taking some of it and investing in tracker ISAs. I have read the report from HL and I am now more interested. Has anyone else used them for advice and investment and what is your experience?

thanks

badger09

There are several very long threads about HL which you might like to read.

I'm not sure many regular posters have used them for advice, but many are or have been customers.

My personal opinion is that their website is great for information, and easy to use, especially for novice investors. However, they are not the cheapest platform. They increased their fees earlier this year which led to many posters leaving them.

Some of the delays in transferring investments to other providers have been horrendous and many of us have had to formally complain.

margaretclare

mookev wrote: »

I regularly receive emails and brochures from Hargreaves lansdown. I currently have lots of savings in cash ISAs (nationwide) and non isa savings accounts and am considering taking some of it and investing in tracker ISAs. I have read the report from HL and I am now more interested. Has anyone else used them for advice and investment and what is your experience?

thanks

Not advice - advice is what you pay for. Information is good. Articles are easy to read and written by people who know what they're talking about.

I decided some time ago that cash savings were a waste of time. I have a regular savings plan with HL in a S&S NISA. Under this umbrella I can choose which fund managers to invest with. I am happy with the results.

ColdIron

Strictly I think they reduced their fees from as much as 0.75 to 0.45 but as their charging structure was commission based and opaque it was hard to tell

Onawingandaprayer

Certainly not the cheapest option, but both my wife and I have portfolios with them (for about 6 years) and we're extremely happy with the service - and the results!

colsten

ColdIron wrote: »

Strictly I think they reduced their fees from as much as 0.75 to 0.45 but as their charging structure was commission based and opaque it was hard to tell

It very much depends what your are invested in, how much you have invested, how frequently you trade, and what terms your investments come under. For example their charges for Vanguard Lifestyle in ISAs for most people rocketed to unacceptable levels. For small SIPPs, they can still be very competitive. I doubt there is any compelling reason why anyone would prefer HL for unwrapped investments.

There's a good comparison tool on http://www.comparefundplatforms.com/ - but don't select on price only. Charges are important but cheapest isn't necessarily best.

I personally wouldn't use the HL advice service as I want to look my financial advisor in the eye when we talk. I am also not convinced HL advisors would be truly independent. I much rather pop round to the guy who has provided independent financial advice to the local community from the same address for the last 20 odd years.

joerugby

Read the thread on III, then make up your own mind

HL are more expensive but it's your money

jimjames

I've been with HL for a number of years and have also used other platforms (Cofunds and Fidelity)

Out of the 3 they are by far the easiest site to navigate and to check info and manage your investments. They may be more expensive but you do get what you pay for.

collingbone614

If you have a larger portfolio then you can negotiate a lower fee. As pointed out above, the platform fee is 0.45% but you can have this reduced to 0.25% within relevant bounds.

masonic

omnirife wrote: »

If you have a larger portfolio then you can negotiate a lower fee. As pointed out above, the platform fee is 0.45% but you can have this reduced to 0.25% within relevant bounds.

I don't think anyone can rely on negotiating a lower fee. HL made these sort of offers to quite a few people who threatened to leave when it changed its charging structure, but it publicly stated that this was not the norm and those who have tried to negotiate on price more recently have had far less success. Of course, you are right that the first £250k is subject to a 0.45% fee and on the next £750k the fee is reduced to 0.25%.