Barclays Smart Investor or Hargreaves Lansdown

jkwer521

I have a choice between Barclays and HL and I have no experience with either. My intention is to hold funds (eg Vanguard) and to make a regular monthly investment (although the amount might change each month). Barclays appears to be cheaper, but I have read elsewhere that it is not a very good platform.

Any advice from people with experience of either?

Alexland

Why not go direct to Vanguard Investor? Is your employment limiting your choice?

jkwer521

Yes, correct, I am limited by my employer

A_T

Any particular reason why you want to use only Vanguard funds? If you're limited to these two platforms you can often find funds that do the same but at lower cost.

Alexland

Yes for example have you considered the discounted OCF on the Blackrock Consensus 85 and 100 funds with HL? Very similar to Vanguard LifeStrategy at a lower cost?

jkwer521

I'm not necessarily only limited Vanguard funds - it was just an example.

I'm still in the early stages if researching, so I'd be open to suggestions. My intention is to have a global portfolio, with a high proportion of equities (80%+)

jkwer521

Interesting - why do HL provide that discount and is it indefinite? Also is there an income version?

Alexland

Access to 1 million HL customers is worth a discount. OCF on Consensus 85 is 0.09% compared to VLS80 at 0.22%. Seems to be ongoing but accumulation only.

ColdIron

It might depend upon the sums involved. Barclays charge 0.2% for funds but with a minimum charge of £4 per month you won't get that until you have > £24,000 invested. HL would be cheaper on sums less than £10,666. You can also factor in a £3 fee for buying funds which are free with HL although it seems there is a £1 charge for automated regular investments

dividendhero

Avoid Barclays Smart Investor like the plague - they "revamped" their systems last year and the service is now terrible. HL.

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