Hargreaves Lansdown ReviewOpen Demo Account
Based in Bristol City, United Kingdom, as one of the biggest financial brokers in Great Britain. The company sells funds and shares and related products to retail investors in the United Kingdom. It is a public limited liability company founded in 1981 by Peter Hargreaves and Stephen Lansdown.
In 2018, generated a total revenue of £447.6 million, with a net income of £236.7 million and an operating income of £291.1 million, also has its headquarters in One College square, Bristol City, UK, trades with over £90 billion in investment and assets, as well as over one million customers. The Hargreaves Lansdown Currency Service is a trading name of Hargreaves Lansdown Asset Management Limited, which is a wholly-owned subsidiary of Hargreaves Lansdown Plc, One College Square South, Anchor Road, Bristol, BS1 5HL.
The company was registered in England & Wales No. 1896481 and is authorised by the Financial Conduct Authority (FCA) as a Payment Institution under the Payment Services Regulations 2017. The Firm Reference number is 115248.
They give veritable financial advice to the customers with a view to helping them make their own financial decisions thereby, provides the customers with tools of learning and trading as well as guarantee and protect the customers from the ills of ordinary savings and bank deposits, as well as protection from undue taxation. The company also has a wide range of investments and shares, including the ETFs, European Shares, among others, also is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index. Presently, Chris Hill is the CEO. The group provides financial advisory, stockbroking, and annuity broking services to private investors and advice to companies on group pension schemes.
The company had won many numerous awards, which cement its place as the leading broking firm in The United Kingdom. One of these awards is the Investment magazine’s ‘Best SIPP Provider’ awards, which the company has received for 9 years consecutively.
- The company's website is easily understandable and accessible to a wide range of customers
- There is a provision of training materials for traders who invest in the company
- There is also the benefit of diversification of investment. This offers the customers an express range of choices of investment and trade
- The terms and conditions of the company are well understood and not ambiguous
- The trading fee gets lower for frequent traders
- Account opening offline for clients outside the UK
- No adequate saving plans for the customers
- Only GBP base currency
What can you trade?
Hargreaves Lansdown Stocks and Shares ISA Review
For every financial year, which is the 6th of April in the starting year to the 5th of April in the closing year, the customers can invest up to the maximum amount of £20,000 as stocks and shares which are totally tax-free. The investment can be made on any market of the customer’s choice after expert analysis. The customer is allowed to customise the trading environment to his or her taste. Besides these, there are portfolios of services with a stipulated distribution of investment that the investor can choose from.
The customer is allowed to either hold shares or simple funds in the ISA account.
Furthermore, the customers are given the opportunity to open an account even without immediate funding. This is a good idea that helps the customer get relaxed and carefully select which financial investment plan is more befitting, thereby minimising risks of making mistakes.
The charges on shares in Hargreaves Lansdown Stocks and Shares are 0.45% annually. However, for simple funds, the charges are 0.45% on the first £250,000, 0.25% on funds between £250,000 and £1m, 0.1% for funds between £1m to £2m, and 0% on funds above £2m. The charges on the investment are deducted monthly.
Hargreaves Lansdown Share Dealing Review
This is one of the most important services, as buying and selling of shares is made possible through a well-designed and effectively managed system and web interface. The portfolio of one’s shares can be assessed at any given point in time. There are many portfolios from which the investor can choose. These are:
- Investment trusts
- Exchange-Traded Funds
- The UK and international shares.
The rates applicable to each account is hugely dependent on how active the user is. While a dormant shareholder will incur no charges for the month under review, an active trader can be charged up to a maximum amount of £11.95. Calculating the amount is a complex process. The number of deals made in previous months will affect the charge for a current month. There are no management charges on both the fund and shares accounts.
Hargreaves Lansdown Funds Dealing Review
An investment fund is a financial agreement whereby capital is pooled together from various sources, and the raised money will there and then be invested in a specific project or goods and services. The profit made on the fund investments will be shared as a unit by a unit percentage of individual contributions. The investment fund is mostly a long-term business, as it might take much time to meet the target of investment. Opening an investment fund account is very easy and can be done by the average user.
There are many fund sectors that the investor can choose from. After making one’s investment as a deposit, the money will be added to whatever is available for each sector of investment, just like the working of a blockchain. Among the most popular fund sectors are the:
- UK equity sector
- UK growth sector
- Global sector
- Asian and Emerging markets
- European sector
- High-income sector
- Japan sector and many others.
The investors do not need to buy or sell basic contributions is necessary. The investment can be as low as £25.
Hargreaves Lansdown Self-Invested Personal Pension Review (SIPP)
They have the benefit of flexibility and convenience for the customers. The customers who are under 75 are the only ones eligible. There is a tax relief of 46% government tax relief. The customer can invest his or her pension in holdings and shares, as well as keep basic funds in the account. The investment in the accounts can also deprecate or appreciate over time. The investment is therefore a risk, albeit, a minimal one at that. The self-invested personal pension also attracts a charge of a 0.4% fee monthly. It is a secured investment, protected by FTSE. The customer can save up to £40,000 yearly. However, such customers may not be able to pay in more than £40,000 if there are unused allowances from previous years.
The investor also has access to the account at any given point in time. The individual SIPP accounts can be checked using the HL app and the desktop website.
Professional advice rendering is also available in order to inform the decision making of the investor. The pension can however not be used until one turns 55. At present, the withdrawal age would be raised to 57 in 2028.
What did our traders think after reviewing the key criteria?
The payable fees are very easy to afford for every user. The SIPP and the ISP attract a fee of 0.45%. For the overseas foreign exchange deals, there is an added transaction charge, which is totally dependent on the size of the transaction.
Charges are calculated based on the value of the customer’s holdings on the last day of the month, and then collected in the following month. The fees are deducted automatically from the accounts at the appointed time. If there are problems regarding the deduction from accounts, the company will write to the investor, detailing the problem and the available options for payment. Upon a failure to respond, the company may sell investments to cover the outstanding fees. Such fees are different from the normal charges detailed in the FAQ.
Other charges may apply in specific circumstances.
The customers are allowed to choose from various options to know which or what investment plan suits their purposes. This makes the company’s investment plans very suitable, flexible, and accommodating for the customers.
The Fund Dealing account, for example, has numerous options of investment sectors that the customers will make use of.
The share dealing investment, which is an integral part of the company’s services is also designed to accommodate different wishes of the customers. It has been customised to suit the customers such that no one will be out of place.
Hargreaves Lansdown has two platforms for the running of a decentralised system of transactions. The first of which is the desktop website, which is very detailed about the running of the company.
The HL app, on the other hand, is much more efficient in making transactions, buying and selling of shares, and exchange of products and services.
The customer support of Hargreaves Lansdown is very good. The company caters to the interest of the customers. There is, apart from the company number, a dialogue box. The pensioners are also provided with a correspondent who answers their questions.
The company utilises many means of accepting and disbursements of money.
When making an international payment for you, they would require the following bank details:
- Swift codes/BIC
- Settlement and Value dates
Payments made to banks in foreign countries may be subject to a receiving charge once the funds arrive with the destination bank, or if they’re routed through an intermediary bank.
There is no provision for cryptocurrency payments. The company does not accept cash payment in their office.
Hargreaves Lansdown Drawdown
Hargreaves Lansdown Drawdown is an extension of the SIPP. This, however, is a scheme that provides retired individuals a good way to withdraw their money and as well invest it in what could help sustain their retirement as well as build generational wealth for the other beneficiary of the account if there is any case of death. The investment, like others, can fall and rise in value and are thus a risk.
The pensioner can withdraw up to 25% tax-free money as cash. The rest can be kept as an active investment with the company. There is also an illustration to show the workings of Drawdown. The customers are educated on the pros and cons of the investment package.
Protection and Regulations
The company is best noted for its ability to keep the customers happy with maximum security of information. The high number of trading customers do not affect the workings of their platforms or their services. The customers are also protected from theft of information and funds.
The company had won numerous awards in its 38 years of existence, these include:
Best SIPP Provider 2007-2016
Gold Standard for Retirement
(Gold Standard Awards)
Best Managed Funds Provider
(ADVFN International Financial Awards)
Best Investment Adviser
Best Direct Share Dealing Provider 2017
Hargreaves Lansdown FAQs
You can add money to your Hargreaves Lansdown account via debit card or online fund transfer. If you are using your debit card, you can add money with the HL app from the ‘My accounts tab.’ For online transfers, log in to your online account at www.hl.co.uk. Next to the account (SIPP, ISA), you would find an option to add money. Follow the instructions, enter your card details and click on ‘Make Payment.
Hargreaves Lansdown is a fully-owned subsidiary of Hargreaves Lansdown Plc (Ticker: HL). Founded by Peter Hargreaves and Stephen Lansdown in 1981, the firm is a constituent of the FTSE 100 Index on the London Stock Exchange. The firm is well-regulated, has won several awards, and is one of the leading financial advisors in the UK.
HL offers several investment products and funds, including ISAs, pensions, HL funds, ETFs, investment trusts, corporate bonds, gilts, spread betting, CFDs and many more.
To ensure investor safety,
- Hargreaves Lansdown Asset Management Limited is authorised and regulated by the Financial Conduct Authority (FCA Register number 115248).
- Hargreaves Lansdown Advisory Services Limited is authorised and regulated by the Financial Conduct Authority (FCA Register number 189627)
- Hargreaves Lansdown Fund Managers Limited is authorised and regulated by the Financial Conduct Authority (FCA Register number 166016).
HL is also a member of the FSCS, a compensation fund that protects client deposits up to £85,000.
You can open a Hargreaves Lansdown fund and share account by
- Phone – Call the broker on 01179809950
- Post – Download or request for the fund and share account application form by filling out some basic info such as your name, email address and contact details.
- Transfer your existing holdings.
Also, to open an account, you need to submit the following
- National Insurance number.
- Debit card details. The minimum amount is £1.
- Bank details for direct debit. The minimum amount is £25.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.