Free trading offer from HL. £100 for 7 weeks

masonic

Albermarle said:

masonic said:

Beddie said:

Alexland said:

Other established platforms such as Fidelity and AJ Bell have been reducing dealing costs (which were already cheaper than HL) to compete with new entrants. There's got to be a limit to how long HL can get people to continue paying £11.95 coupled with the high 0.45% on tax advantaged accounts. I guess this offer buys them time but once it's over the pressure will be on them again.

And yet:

Investment firm Hargreaves Lansdown (HL) has reported a rise in revenues and new clients for the first quarter of the year. The Bristol-headquartered company said new products, such as ready made pensions and cash ISAs, had helped secure 34,000 new customers in the three months ending March 31 - up 48% year on year.

HL reported net new business of £1.6bn over the period, with revenues rising to £199.7m, an increase of 6% on the last quarter of 2023.

https://www.business-live.co.uk/professional-services/banking-finance/new-products-help-hargreaves-lansdown-29083071

I'm sure it had nothing to do with the very generous cashback offer they had running at the same time.

Then as you know you can run an ISA with HL, and only pay £45 pa platform fee.

Yes, I was with HL when they introduced the platform fee and moved to II as a result, which at the time had none. Over the years II ratcheted up its charges, first fully compensating for the cost through trading credits, then increasing them further while reducing their trading fees and as a consequence the value of the trading credits. So for me, moving back to HL not only got me a cash bribe, but also reduces my platform fee. The only wrinkle is that I can't regularly invest income into the holdings of my choice for free once a month (because regular investing is only for new contributions), but it seems I can turn on dividend reinvestment to have it reinvested in the paying holding. Which works almost as well. I don't intend to switch holdings or rebalance while with HL, except taking advantage of the current refund offer.

Albermarle said:

I will also say I recently requested a small pot SIPP withdrawal ( pot was £9,900).
Secure message sent on Thursday evening. Response back Friday morning. Sent off completed form on Friday ( Freepost) . They acknowledged receipt of form early Tuesday morning, saying withdrawal times were delayed up to 10 days due to change in pension legislation. However payment arrived Friday. Letter with P45 on Tuesday.
Job done !
Could not fault them really.

That's good to know. My SIPP will be moved to them in a couple of months time, and I've had some bad CS experiences at my existing provider (Fidelity), so while it's not a factor that would make me pay more, it's icing on the cake.

InvesterJones

I'm guessing this is great for individual bond purchases held to maturity in a GIA? Initial charges refunded, then when they mature they should be paid in full for no further charge.

Ciprico

Last day for free HL trading.....

(HL say "to" 21-6-24, not clear if that includes the 21st or not, so safer to deal today...)

nottsphil

Ciprico said:

Last day for free HL trading.....

(HL say "to" 21-6-24, not clear if that includes the 21st or not, so safer to deal today...)

Would it be worth me using this for the £10K worth of National Grid shares I've been thinking of buying lately? If it's going to cost me twice as much as say iWeb when I come to sell then I'd rather wait a bit until I have more knowledge (I've only ever bought shares through denationalisations before, including NG.)

InvesterJones

nottsphil said:

Ciprico said:

Last day for free HL trading.....

(HL say "to" 21-6-24, not clear if that includes the 21st or not, so safer to deal today...)

Would it be worth me using this for the £10K worth of National Grid shares I've been thinking of buying lately? If it's going to cost me twice as much as say iWeb when I come to sell then I'd rather wait a bit until I have more knowledge (I've only ever bought shares through denationalisations before, including NG.)

2xiWeb trades = £10

1xfree and 1xnon-free H&L trade = £11.95

ColdIron

Ciprico said:

Last day for free HL trading.....

(HL say "to" 21-6-24, not clear if that includes the 21st or not, so safer to deal today...)

It does include tomorrow 21st

Due to some (£0) Monthly Savings purchases in my F&S & ISA account in May my share dealing costs in my drawdown SIPP in June were £8.95 so 11 free trades and maybe £5.95 in July. It's been a decent offer

Costs should be refunded by the end of the month

nottsphil

InvesterJones said:

nottsphil said:

Ciprico said:

Last day for free HL trading.....

(HL say "to" 21-6-24, not clear if that includes the 21st or not, so safer to deal today...)

Would it be worth me using this for the £10K worth of National Grid shares I've been thinking of buying lately? If it's going to cost me twice as much as say iWeb when I come to sell then I'd rather wait a bit until I have more knowledge (I've only ever bought shares through denationalisations before, including NG.)

2xiWeb trades = £10

1xfree and 1xnon-free H&L trade = £11.95

Thanks IJ, that's what I suspected. It must be a no-brainer for a wannabe investor like me to join iWeb for free this month. 
Is the spelling of your name deliberate?

InvesterJones

nottsphil said:

InvesterJones said:

nottsphil said:

Ciprico said:

Last day for free HL trading.....

(HL say "to" 21-6-24, not clear if that includes the 21st or not, so safer to deal today...)

Would it be worth me using this for the £10K worth of National Grid shares I've been thinking of buying lately? If it's going to cost me twice as much as say iWeb when I come to sell then I'd rather wait a bit until I have more knowledge (I've only ever bought shares through denationalisations before, including NG.)

2xiWeb trades = £10

1xfree and 1xnon-free H&L trade = £11.95

Thanks IJ, that's what I suspected. It must be a no-brainer for a wannabe investor like me to join iWeb for free this month. 
Is the spelling of your name deliberate?

You'll have to ask my parents.

Alexland

nottsphil said:
It must be a no-brainer for a wannabe investor like me to join iWeb for free this month. 

An iWeb account is a very useful thing. I paid £100 to join years ago and after some damage to my financial position caused by divorce have rejoined this month with a token deposit to give me somewhere to move my Interactive Investor ISA when their transfer cashback offer lock-in period has run out. Joining for free is a good deal if you expect to have a big enough account valuation and appreciate they are part of Halifax (Lloyds Banking Group).