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  • FEE RANGE: 0.1% - 0.45% yearly charge £5.95 - £11.95 per trade
  • WITHDRAWAL FEE: /
  • ACCOUNT MINIMUM: £1
  • ASSETS UNDER MANAGEMENT: £130 billion
  • INVESTMENT PRODUCTS: Stocks and Shares ISA, SIPP, Junior ISA, Lifetime ISA, Annuity, Pension Drawdown, Fund and Share Account, Active Savings Account
  • CUSTOMER SUPPORT: Phone, Email, FAQs

minimum price:

£100 (to trade)

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Hargreaves Lansdown Review

Looking to kickstart your investment journey? What better place to start than Hargreaves Lansdown, UK’s number one stockbroker. If you wonder what makes this broker so appealing for so many investors, this Hargreaves Lansdown Review holds all the answers.

Hargreaves Lansdown Review

minimum price:

£100 (to trade)

Visit Website
  • FEE RANGE: 0.1% - 0.45% yearly charge £5.95 - £11.95 per trade
  • WITHDRAWAL FEE: /
  • ACCOUNT MINIMUM: £1
  • ASSETS UNDER MANAGEMENT: £130 billion
  • INVESTMENT PRODUCTS: Stocks and Shares ISA, SIPP, Junior ISA, Lifetime ISA, Annuity, Pension Drawdown, Fund and Share Account, Active Savings Account
  • CUSTOMER SUPPORT: Phone, Email, FAQs

Best For

DIY investing

STRENGTHS

  • Wide range of investment products
  • Excellent educational tools
  • Financial Advice service
  • Constituent of the FTSE 100 index
  • Excellent customer service

WEAKNESSES

  • High fees
  • Only GBP base currency

With bank interest rates dropping to an all-time low, savers in the UK are increasingly turning their attention to the stock market in an attempt to make the most of their money. Luckily, there are tons of established investment platforms out there they can choose from. If you, too, are in the market for an online stockbroker, you are probably wondering whether Hargreaves Lansdown is the right option for you. 

In this Hargreaves Lansdown Review, I will break down everything you need to know about the UK’s largest investment platform and uncover its strengths and downsides. In the end, I will give you my final verdict on whether this investment provider is worth checking out. 

  • What Is Hargreaves Lansdown
  • Who Is Hargreaves Lansdown Best For?
  • How Does It Work?
  • Accounts and Services
  • Charges
  • Account Setup and Withdrawals
  • Mobile App 
  • Security
  • Competitors
  • Customer Support
  • User Reviews

What Is Hargreaves Lansdown?

With over 1.5 million clients and £130 billion in client assets under management, Hargreaves Lansdown is currently the UK’s leading online stockbroker. 

This Bristol-based company was founded in 1981 by Peter Hargreaves and Stephen Lansdown, initially offering unit trust and tax planning advice to clients. In 1986, the company began offering discretionary investment services. By the 90s, it further expanded its operations, opening up its investment services to a broader range of clients. 

It was first listed on the London Stock Exchange in 2007 and is currently an FTSE 100 company. Moreover, Hargreaves Lansdown is a secure and reputable broker, fully licensed by the Financial Conduct Authority (FCA).

Now that we’ve covered the basics, take a look at the section below to see whether Hargreaves Lansdown is a suitable investment platform for you.

Who Is Hargreaves Lansdown Best For?

Hargreaves Lansdown is suitable for both newbies and seasoned investors. Those who are just starting to manage their investment and pension products will benefit from the platform’s clean, user-friendly layout, helpful introductory guides, and seamless account setup. 

In addition, the platform offers a flexible Financial Advice service that lets investors choose the level of advice based on their individual circumstances. The Financial Advice service will help first-time investors make more confident financial decisions and avoid common beginner mistakes. 

At the same time, access to live financial advisors can also help experienced investors ensure their existing portfolios are cost-effective, diversified, and profitable. 

Hargreaves Lansdown is also most competitively priced for investors with portfolios worth up to £100.000, owing to the platform’s tiered fee structure. Additionally, this platform’s active savings account makes it a suitable option for investors looking to make the most of their cash savings.

Finally, aside from UK citizens, anyone residing within the European Economic Area can apply for and manage a Fund and Share Account with Hargreaves Lansdown. Those residing outside of the European Economic Area will still be able to retain and place deals on their existing accounts but will not be allowed to add new money to their accounts.

How Does It Work?

To start investing with Hargreaves Lansdown, you will first need to open an account. 

Hargreaves Lansdown offers a wealth of investment choices, including shares, funds, ISAs, an active savings platform, pensions, and several ready-made portfolios. Additional services provided by Hargreaves Lansdown include a wealth shortlist, master portfolios, spread betting and CFGs, and a foreign currency exchange service. 

With so many investment options available, you will need to decide on your investment goal first and whether you want to build a pension pot or just save towards a more secure future. 

Luckily, Hargreaves Lansdown helps you narrow down your choice by allowing you to compare the accounts side by side and see which one suits your financial needs the most. Then, once you’ve decided, you can set up your account online in as little as 10 minutes. 

All you will need to do is enter your personal information, verify your identity, and deposit the minimum amount required. This amount varies depending on which account you’ve chosen and ranges from as little as £1 to up to £1,000. 

Accounts and Services

Hargreaves Lansdown’s main advantage over other investment platforms is that it provides by far the most comprehensive range of investment options. The investment products include:

  • Stocks and Shares ISA
  • Lifetime ISA
  • Junior ISA
  • Fund and Share Account
  • Investment Trusts
  • Wealth Management

This platform also offers a range of pension products, including

  • Self-Invested Personal Pension (SIPP)
  • Junior SIPP
  • Pension Drawdown
  • Annuities

Stocks and Shares ISA

With a Hargreaves Lansdown Stocks and Shares ISA, you can make tax-efficient investments in over 2,500 UK and overseas funds, shares, and trusts. Owing to the initiative passed by the UK government, you can fund your ISA account with as much as £20,000 each tax year and use your savings to invest in the stocks market. 

Suitable to both new and experienced investors, this account lets you choose from six ready-made portfolios or take the hands-on approach and build your own portfolio. In that case, you can open a Stocks and Shares ISA with a £100 lump sum or set up a direct debit of just £25 per month. 

Lifetime ISA

The Hargreaves Lansdown Lifetime ISA is a flexible way to save for your first home or retirement tax-free. 

To open a Lifetime ISA, you need to be between 18 and 39 years old. You can only withdraw the money to purchase your first property or after you turn 60. Any other withdrawal is subject to a 25% fee, so you can end up with less than the amount you initially put in.

You can pay a maximum of £4,000 into a Lifetime ISA each tax year and take advantage of a 25% bonus on contributions from the UK government. This bonus can add up to a maximum of £1,000 per tax year. 

Hargreaves Lansdown is a flexible investment provider, allowing you to choose between saving the funds in your Lifetime ISA as cash or investing it in the stock market. Moreover, opening the account requires a minimum investment of £100 or as little as £25 a month. What’s more, a Hargreaves Lansdown ISA transfer is entirely free.

Junior ISA

A Junior ISA is a long-term investment account that parents or legal guardians of children under 18 can open on their behalf. This account provides young savers access to tax-free investments of up to £9,000 per tax year. With a Hargreaves Lansdown Junior ISA, parents can choose from over 3,000 funds, UK and overseas shares, as well as investment trusts, bonds, and ETFs.

Self Invested Personal Pension (SIPP)

Hargreaves Lansdown offers a range of pension products, from self-invested personal pensions to annuities and drawdowns. 

The company’s award-winning SIPP offers a flexible and tax-free way to save for retirement, giving clients complete freedom to decide where their pension is invested. You can choose from 2,500+ funds, shares, and trusts or let Hargreaves Lansdown’s team of experts handle your investments for you. 

Once you put money in a SIPP, you are not required to pay any tax on the income your investments earned. Furthermore, you will also benefit from tax relief of up to 45% on personal contributions made.

Annuities

An annuity guarantees a regular income in retirement. You can exchange some or all of your pension pot with an insurance company for an annuity and get a guaranteed monthly income for life or an agreed-upon number of years. In addition, when buying an annuity, you will receive up to 25% of the amount as a tax-free cash payment.

Although it provides security, an annuity can’t be changed or cancelled, so you need to weigh up your options carefully before setting it up. With Hargreaves Lansdown, you can compare annuities and find the best rates available from the leading annuity providers in the UK.

Pension Drawdown

A drawdown is a much more flexible but riskier option, allowing you to make withdrawals from your pension pot whenever you want to and leave the remaining funds invested. In addition, 25% of your income from a drawdown is tax-free. 

The risk here is that if your investments don’t perform as you had hoped, you could run out of money or end up with less than what you initially invested. Setting up a drawdown is entirely free, and Hargreaves Lansdown also offers a drawdown calculator to help you estimate how long your pension plan will last. 

Hargreaves Lansdown also offers a  Mix and Match option – a hybrid between an annuity and a  drawdown. With Mix and Match, you can get the security of a regular income and still keep a part of your pension invested for a more flexible income.

Fund and Share Account

The Fund and Share Account is the Hargreaves Lansdown version of a General Investment Account. This account is a low-cost and flexible way of trading in the stock market, allowing you to sell, buy, and manage all your investments from one place. 

You can choose from 3,000+ funds, UK and overseas shares, corporate and government bonds, ETFs, investment trusts, and more. You can open a Fund and Share account with only £1 or set up a direct debit from £25 per month. Still, to start investing, you will need a minimum account balance of at least £100.

Investment management is straightforward – you can do it online 24/7 or invest on the go with Hargreaves Lansdown’s mobile app. 

Active Savings Account

In 2018, Hargreaves Lansdown also launched its Active Savings Account, allowing clients to look for the best interest rates for their cash savings using a single hub. The active savings platform is free to use, as Hargreaves Lansdown charges account providers instead of clients. Savers can choose from a range of instant access and fixed-term savings accounts, with terms ranging from three months to five years. 

Partner banks available include Charter Savings Bank, Paragon, Kent Reliance, Close Brothers Savings, and others, with AERs ranging from 0.10% to 1.72%.

Charges 

Hargreaves Lansdown has a tiered fee structure that depends on the product you choose. The table below shows the charges that apply to the Stocks and Shares ISA, Lifetime ISA, Junior ISA, SIPP, and Fund accounts.

Amount Invested Annual Charge
First £250,000 0.45%
£250,000 – £1 million  0.25%
£1 million – £2 million  0.1%
Over £2 million  No charge

There are no charges for holding shares in a Hargreaves Lansdown Fund and Share Account. However, for shares held in an ISA or SIPP, there is a 0.45% charge (capped at £45 per year), making Hargreaves Lansdown one of the few brokers to apply charges on shares.

Shares, investment trusts, ETFs, bonds, and gilts come with per trade fees that depend on an investor’s trading activity. These charges highly encourage active trading. 

Number of deals in the previous month Cost per deal
0 – 9  £11.95
10 – 19 £8.95
20+ £5.95

Hargreaves Lansdown does not charge anything for account inactivity, opening an account and holding cash. 

As you can see, Hargreaves Lansdown’s excellent service is reflected in its fee structure. This platform charges some of the highest fees currently on the stock market, and regardless of what they are trading, investors are paying a premium price. Therefore, it is best to consider how important Hargreaves Lansdown’s extra services are to you before joining the platform.

Account Setup and Withdrawals

Account opening at Hargreaves Lansdown is relatively easy and straightforward.  The process is fully digital and shouldn’t take up more than 10 minutes of your time. There is no minimum deposit required to open an account either. Sadly though, only UK residents are eligible to open an account with this stockbroker.

Each Hargreaves Lansdown account has specific features and requirements, but generally, they all follow the same steps. 

First, you will need to complete a brief questionnaire and provide your name, nationality, address, national insurance number, and other personal info. On top of that, you will also need to answer several security questions regarding your trading experience and whether you are legally allowed to trade. 

Online ISA Application | CyberCrew

Next, Hargreaves Lansdown will ask you to prove your identity.

You can upload your national ID, driving licence, or passport as proof of identity and a utility bill or bank statement as proof of residency. Identity verification is quick, as, unlike some other online stockbrokers, Hargreaves Lansdown doesn’t ask you to mail them physical copies of your documents. 

Once you’ve made it through identity verification, you can go ahead and transfer the minimum deposit required by your specific account. 

For example, you can open an ISA and a SIPP account with a minimum of £100 or set up monthly payments of £25. However, investing in one of Hargreaves Lansdown’s ready-made portfolios is significantly pricier and requires a minimum deposit of as much as £1,000.

You can withdraw money from a Hargreaves Lansdown ISA or Fund and Share Account to your nominated bank account free of charge. Moreover, the withdrawal process is reasonably quick. You should have the funds available in your bank account in as little as two business days after making the withdrawal request.

In addition, the process of closing a Hargreaves Lansdown account is as seamless as opening one and applies no charges. All you will need to do is contact customer support, and they will guide you through every step, whether you want to close your account or transfer your funds to a different provider. 

Mobile App

Hargreaves Lansdown’s mobile trading platform for Android and iOS devices is user friendly and well-designed. The app is also easy to navigate, allowing traders to see their entire portfolios at a glance.

You can top up your account, make withdrawal requests, trade, and manage your investments all through the app. The option to create watchlists to keep an eye on your favourite investments is a nice touch too. 

Moreover, login is secured with a fingerprint and Face ID, and the app gives access to live share prices, trading history, set-stop, limit orders, valuable tools, and market insights.

On the downside, you can’t set alerts and notifications using the mobile app, and it doesn’t support two-factor authentication, which are perhaps its only shortcomings. 

Security

The fact that Hargreaves Lansdown is authorised by the FCA suggests it is a trustworthy investment platform that adheres to all industry standards. Moreover, the platform is a constituent of the prestigious FTSE 100 index, comprising the 100 most highly capitalist companies listed on the London Stock Exchange. 

Hargreaves Lansdown is also a member of the Financial Service Compensation Scheme, meaning that if the company goes bust, each client is entitled to compensation of up to £85,000.

Hargreaves Lansdown Alternatives

One of the most popular alternatives to Hargreaves Lansdown is AJ Bell YouInvest, a renowned UK broker that has been in business for over 25 years. 

AJ Bell is a low-cost trader with cheaper annual fees than Hargreaves Lansdown. You can see how the two compare in fee structure in the table below. 

Hargreaves Lansdown AJ Bell YouInvest
First £250,000 0.45% 0.25%
£250,000 – £1 million  0.25% 0.10%
£1 million – £2 million  0.10% 0.05%
Over £2 million No charge No charge

Although AJ Bell has the cheaper annual charges, unlike Hargreaves Lansdown, this investment platform charges £1.50 for each fund transaction. For active traders, these charges can quickly add up. 

Another viable alternative to Hargreaves Lansdown is Interactive Investor, UK’S second-largest investment platform by assets under management. This broker has a fee structure based on a subscription model, charging a regular monthly fee between £9.99 and £19.99 depending on the plan. 

Interactive Investor doesn’t offer a Lifetime ISA, but other than that has a similar product range to Hargreaves Lansdown. One area in which this platform excels is international investing, as it gives you the option to hold shares in up to nine foreign currencies.

In contrast, Hargreaves Lansdown automatically converts any cash proceeds to sterling, as it has only GBP base currency.

Hargreaves Lansdown is an excellent choice if you are interested in share trading and DIY portfolios. But, suppose you are not as confident in your financial decisions and are looking for a platform that will handle your investments based on your risk appetite. In that case, you should look more into robo-advisor platforms, such as Nutmeg

Customer Support

You can contact the Hargreaves Lansdown customer service team via phone and email. 

Phone support is an excellent option for issues needing immediate assistance, as you get hold of a representative almost instantly. Moreover, there are different lines available depending on your problem, all of which are open every business day from 8 am to 5 pm, and Saturdays from 9.30 am to 12.30 pm. 

Email support is excellent, too, with well-informed and detailed responses that you can expect within a day of reaching out. 

On the negative side, 24/7 support and a live chat option are missing, so I would love to see Hargreaves Lansdown work on that in the future.

User Reviews

Hargreaves Lansdown is rated as “Great” on Trustpilot, with a total score of 4.2 out of 5 stars. Most of the positive reviews by clients focus on the platform’s excellent customer service, educational guides, and market insights. Here is what some of the reviewers had to say.

Hargreaves Lansdown User Reviews | CyberCrew

Hargreaves Lansdown User Reviews | CyberCrew

Hargreaves Lansdown User Reviews | CyberCrew

Hargreaves Lansdown User Reviews | CyberCrew

In contrast, a large number of dissatisfied clients mention Hargreaves Lansdown’s high fees as one of the platform’s most significant setbacks.

Wrap Up

All in all, Hargreaves Lansdown is a highly well-rounded investment provider. 

It is often hailed as the number one online stockbroker in the UK, and when you look at the numbers, it is hard to dispute that. Aside from the wealth of investment products on offer, what makes this platform so appealing are the valuable guides and resources for customers with little to no experience in investing. 

The fact that it is a constituent of the FTSE 100 index also seems to provide customers with additional reassurance. Although it has higher fees than other brokers, the platform’s unparalleled quality of service makes up for it. So, if you are considering diving into the world of investments, it is evident from this Hargreaves Lansdown Review that the UK’s leading stockbroker is an excellent place to start. 

FAQ

Is Hargreaves Lansdown trustworthy?

Yes, Hargreaves Lansdown is a secure investment provider. It is licensed by the FCA and is also a member of the FCSC, which protects up to £85,000 of client assets in the case of insolvency.

Who are Hargreaves Lansdown competitors?

Hargreaves Lansdown’s top competitors include eToro, Interactive Investor, IG, Fineco, AJ Bell YouInvest, Fidelity International, and many more.

Is Hargreaves Lansdown good for ISA?

Yes, Hargreaves Lansdown is one of the most popular ISA providers across the UK for both first-time and seasoned investors. An HL ISA provides access to 2,500+ UK and overseas funds, shares, and trusts. Traders can also choose from several ready-made portfolios prepared by this broker’s team of experts.

Does it cost to withdraw money from Hargreaves Lansdown?

No, you can withdraw money from Hargreaves Lansdown to your nominated bank account free of charge.

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