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    • docboy
    • By docboy 11th Jun 19, 12:07 PM
    • 3Posts
    • 0Thanks
    docboy
    Hargreaves Lansdown fiasco
    • #1
    • 11th Jun 19, 12:07 PM
    Hargreaves Lansdown fiasco 11th Jun 19 at 12:07 PM
    What do people think about Hargreaves Lansdown (HL) brokers? I understand their company executives cashed out on Woodward funds (HL's Dampier and Gardhouse cashed in shares weeks before Woodford crisis) at its peak, only to then see the fund prices spiral down. Is this insider trading?? Is HL reliable as a broker anymore??
Page 1
    • Zola.
    • By Zola. 11th Jun 19, 12:15 PM
    • 1,526 Posts
    • 727 Thanks
    Zola.
    • #2
    • 11th Jun 19, 12:15 PM
    • #2
    • 11th Jun 19, 12:15 PM
    If you don't invest in the funds they recommend and do your own research they are fine, nice flashy website but they are the most expensive for holding funds in..
    • Alexland
    • By Alexland 11th Jun 19, 12:32 PM
    • 5,776 Posts
    • 5,035 Thanks
    Alexland
    • #3
    • 11th Jun 19, 12:32 PM
    • #3
    • 11th Jun 19, 12:32 PM
    HL are fine if you just ignore all their 'research' (marketing) efforts. They are certainly not the cheapest but they can be good for LISAs or SIPPs where fees are generally higher anyway especially if you regularly invest in discounted passive or mixed asset funds or have enough invested in exchange traded assets for fee capping. HL are not good value on S&S ISAs where the market is very competitive.

    Alex
    • ColdIron
    • By ColdIron 11th Jun 19, 12:32 PM
    • 5,442 Posts
    • 7,471 Thanks
    ColdIron
    • #4
    • 11th Jun 19, 12:32 PM
    • #4
    • 11th Jun 19, 12:32 PM
    I understand their company executives cashed out on Woodward funds (HL's Dampier and Gardhouse cashed in shares weeks before Woodford crisis) at its peak
    Originally posted by docboy
    Check your facts. Mark Dampier of Hargreaves Lansdown sold his shares in Hargreaves Lansdown. I have not seen it reported that he had any investments in Woodford at all
    • Alexland
    • By Alexland 11th Jun 19, 12:33 PM
    • 5,776 Posts
    • 5,035 Thanks
    Alexland
    • #5
    • 11th Jun 19, 12:33 PM
    • #5
    • 11th Jun 19, 12:33 PM
    Check your facts. Mark Dampier of Hargreaves Lansdown sold his shares in Hargreaves Lansdown. I have not seen it reported that he had any investments in Woodford at all
    Originally posted by ColdIron
    Or in any cash cow HL funds...
    • tacpot12
    • By tacpot12 11th Jun 19, 12:36 PM
    • 2,919 Posts
    • 2,634 Thanks
    tacpot12
    • #6
    • 11th Jun 19, 12:36 PM
    • #6
    • 11th Jun 19, 12:36 PM
    I think AJ Bell are as bad. They promote third-party funds and trusts but can they be an honest appraiser of such investments? I don't think they can.

    I would prefer to see the platform operators prevented from marketing anything other than their platform. If they want to setup their own funds, they should have to do so under another brand.
    The comments I post are my personal opinion. While I try to check everything is correct before posting, I can and do make mistakes, so always check official information sources before relying on my posts.
    • fun4everyone
    • By fun4everyone 11th Jun 19, 12:43 PM
    • 1,796 Posts
    • 2,915 Thanks
    fun4everyone
    • #7
    • 11th Jun 19, 12:43 PM
    • #7
    • 11th Jun 19, 12:43 PM
    HL are fine if you just ignore all their 'research' (marketing) efforts. They are certainly not the cheapest but they can be good for LISAs or SIPPs
    Originally posted by Alexland
    I use them for my LISA. Given the lack of choice out there for S&S LISAs they are the best of the bunch imo.
    Last edited by fun4everyone; 11-06-2019 at 12:46 PM.
    • chucknorris
    • By chucknorris 11th Jun 19, 12:48 PM
    • 10,201 Posts
    • 15,073 Thanks
    chucknorris
    • #8
    • 11th Jun 19, 12:48 PM
    • #8
    • 11th Jun 19, 12:48 PM
    If you don't invest in the funds they recommend and do your own research they are fine, nice flashy website but they are the most expensive for holding funds in..
    Originally posted by Zola.
    Funds maybe, but I have just over 1.3m invested there in ETF's, corporate bonds and REITS and I only pay 245 per annum, plus trading fees, spread and stamp duty whenever I sell or invest.
    Chuck Norris can kill two stones with one bird
    The only time Chuck Norris was wrong was when he thought he had made a mistake
    Chuck Norris puts the "laughter" in "manslaughter".
    I've started running again, after several injuries had forced me to stop
    • Alexland
    • By Alexland 11th Jun 19, 12:50 PM
    • 5,776 Posts
    • 5,035 Thanks
    Alexland
    • #9
    • 11th Jun 19, 12:50 PM
    • #9
    • 11th Jun 19, 12:50 PM
    I use them for my LISA. Given the lack of choice out there for S&S LISA's they are the best of the bunch imo.
    Originally posted by fun4everyone
    We do too and I also use the HL app watchlist to track our 95% of investments held in SIPPs and S&S ISAs elsewhere.
    • Wildsound
    • By Wildsound 11th Jun 19, 1:07 PM
    • 326 Posts
    • 269 Thanks
    Wildsound
    The only good part of their Wealth 50 magazine, which they distribute bi-annually I believe, is the pages at the back which list you figures for most of the funds in each sector.

    If you've got the time and inclination, you can grab yourself a green and red highlighter pen and then compare each funds annual figures with the trackers/sector at the bottom and then mark green if it's outperformed or red for underperformed. If the lights are mostly green, that's your point of digging deeper into that fund.

    It's basically a more hands on way of doing what Trustnet/Morningstar can do for you.
    • webjaved
    • By webjaved 11th Jun 19, 1:23 PM
    • 212 Posts
    • 247 Thanks
    webjaved
    We do too and I also use the HL app watchlist to track our 95% of investments held in SIPPs and S&S ISAs elsewhere.
    Originally posted by Alexland
    Ha! The only reason why I have it installed on my phone, for this very reason.
    Save 12k in 2019 #154 - 12,696.98/12k
    • dunstonh
    • By dunstonh 11th Jun 19, 1:31 PM
    • 98,597 Posts
    • 67,050 Thanks
    dunstonh
    Is HL reliable as a broker anymore??
    Extremely reliable.

    Remember that their DIY platform is not an adviser. It gives no advice or opinion. You make your own decisions.

    How they construct and present their "marketing 150 or 50 or whatever number they want it to be" list is open to criticism. However, their platform does exactly what they say it will do.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • aroominyork
    • By aroominyork 11th Jun 19, 2:11 PM
    • 1,036 Posts
    • 361 Thanks
    aroominyork
    Although I have now switched to Interactive Investor for cost reasons, there's no doubt that - cost aside - HL is the dog's wotsits. One functionality others don't offer is being able to switch funds on the same day rather than placing separate buy and sell orders and being out of the market for a day; you can do that for up to 90% of the value of the holding you are selling.
    • Linton
    • By Linton 11th Jun 19, 3:05 PM
    • 11,295 Posts
    • 11,704 Thanks
    Linton
    Although I have now switched to Interactive Investor for cost reasons, there's no doubt that - cost aside - HL is the dog's wotsits. One functionality others don't offer is being able to switch funds on the same day rather than placing separate buy and sell orders and being out of the market for a day; you can do that for up to 90% of the value of the holding you are selling.
    Originally posted by aroominyork

    FYI: Fidelity and BestInvest also provide a fund switching option. They both allow 100% of the sale proceeds to be used for the purchase.
    • dunstonh
    • By dunstonh 11th Jun 19, 3:27 PM
    • 98,597 Posts
    • 67,050 Thanks
    dunstonh
    FYI: Fidelity and BestInvest also provide a fund switching option. They both allow 100% of the sale proceeds to be used for the purchase.
    Originally posted by Linton
    Most of the platforms do. A few budget ones do not.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • aroominyork
    • By aroominyork 11th Jun 19, 4:22 PM
    • 1,036 Posts
    • 361 Thanks
    aroominyork
    Most of the platforms do. A few budget ones do not.
    Originally posted by dunstonh
    Then classify ii as budget since they do not offer switching.
    Last edited by aroominyork; 11-06-2019 at 7:36 PM.
    • Linton
    • By Linton 11th Jun 19, 5:35 PM
    • 11,295 Posts
    • 11,704 Thanks
    Linton
    AJ Bell does not support switching either.
    • jaybeetoo
    • By jaybeetoo 11th Jun 19, 5:37 PM
    • 1,005 Posts
    • 555 Thanks
    jaybeetoo
    Although I have now switched to Interactive Investor for cost reasons, there's no doubt that - cost aside - HL is the dog's wotsits. One functionality others don't offer is being able to switch funds on the same day rather than placing separate buy and sell orders and being out of the market for a day; you can do that for up to 90% of the value of the holding you are selling.
    Originally posted by aroominyork
    Alliance Trust Savings offer this facility.
    • gary83
    • By gary83 11th Jun 19, 5:39 PM
    • 82 Posts
    • 91 Thanks
    gary83
    FYI: Fidelity and BestInvest also provide a fund switching option. They both allow 100% of the sale proceeds to be used for the purchase.
    Originally posted by Linton
    Fidelity do it, but they don't do it quickly from my experience you'd be out of the market for a few days at best.

    Same as most people I'm using H&L for a LISA and holding other investments accessing fidelity through cavendish, H&Ls website & app is much slicker and transactions seem to go through much faster, I guess it's a good example of getting what you pay for
    • docboy
    • By docboy 14th Jun 19, 11:00 AM
    • 3 Posts
    • 0 Thanks
    docboy
    Thanks
    Sorry my friend, but this is what I came across, and you too can find articles if you Google this following.

    HL's Dampier and Gardhouse cashed in shares weeks before Woodford crisis
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