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Hargreaves Lansdown investment platform review

In our review, we analyse the charges levied by Hargreaves Lansdown fund supermarket, suggesting which areas provide good value for money and which appear expensive.

In this article
What is Hargreaves Lansdown? Is Hargreaves Lansdown any good? What services does Hargreaves Lansdown offer? What is Hargreaves Lansdown Wealth 50?
What are Hargreaves Lansdown's charges? Hargreaves Lansdown's customer views Get top money-saving tips from Which?

What is Hargreaves Lansdown?

Hargreaves Lansdown is the biggest fund supermarket in the UK, with more than 1 million customers and looking after almost £86bn worth of their money.

Founded in 1981, Hargreaves Lansdown has grown to become a FTSE 100 company, making it one of the largest listed firms in the UK.

While it doesn't offer the cheapest service on the market, it has built a reputation for first-class customer service, and informative research and information about investments.

Is Hargreaves Lansdown any good?

Which? members can exclusively read the results of our unique customer satisfaction survey, which reveals how customers rate Hargreaves Lansdown fund supermarket for seven different elements of its service.

Members can log in to read our analysis. If you're not already a Which? member, you can take a one month trial to Which? Money for £1 to get instant access to all our reviews and results.

Aspect of service Star rating
Customer service Logged out padlock
Efficient administration Logged out padlock
Online functionality Logged out padlock
Online tools and guidance Logged out padlock
Information about investments Logged out padlock
Clarity of charges Logged out padlock
Value for money Logged out padlock

What services does Hargreaves Lansdown offer?

Hargreaves Lansdown offers a range of products and services for investors. It includes online tools, calculators, recommended fund lists and model portfolios.

It also offers a stocks and shares Isa, self-invested personal pension, junior Isa, lifetime Isa and a general investment account.

You can also manage your pension through an income drawdown plan, or buy an annuity through the platform. 

What is Hargreaves Lansdown Wealth 50?

Hargreaves Lansdown recently launched Wealth 50, which will initially comprise of around 60 funds selected by the HL research team. 

The new Wealth 50 will replace the existing Wealth 150 and Wealth 150 Plus lists which both contain active and passive funds.

While Wealth 50 aims to offer a simpler and more focused list of funds, a number of big names have now been excluded including; Jupiter European, BlackRock Gold & General, Fidelity Special Situations and Legal & General UK 100. 

What are Hargreaves Lansdown's charges?

Annual charges

Annual fund charge of 0.45% on funds up to £250,000;

  • 0.25% on the portion of funds between £250,000 and £1m;
  • 0.1% on anything between £1m and £2m;
  • 0% for anything above that.

Trading charges

  • Between £5.95 and £11.95 to trade shares and investment trusts online, depending on the frequency of trades
  • Free trading for unit trusts and open-ended investment company funds

Read our comparison of investment platform charges to see how much investing with Hargreaves Lansdown costs for a range of portfolios.

And if you're thinking of using Hargreaves Lansdown to take an income from your pension in a drawdown plan, read our comparison of pension drawdown charges

Who is Hargreaves Lansdown good for?

If you're happy to pay for a premium service, Hargreaves Lansdown offers solid core services with bells and whistles that are appreciated by its clients.

For those with smaller portfolios, Hargreaves Lansdown could cost you more than its cheaper rivals, but this might be a relatively small premium if you really value the service.

Who is Hargreaves Lansdown expensive for?

If you have a larger portfolio, Hargreaves Lansdown could prove costly. Its fees are calculated as a percentage of your portfolio value, so you could end up paying thousands of pounds a year more than broker charging a fixed fee in pounds and pence.

However, it's fairly competitive when it comes to share trading. 

Hargreaves Lansdown's customer views

'The most efficient and responsive customer service I've found from any company, in any industry.'

'The excellent service and information helps me make decisions.'

'Supremely efficient.'

'They offer reasonably fair charges, functionality and a reliable service, marred by slightly over-enthusiastic marketing and a tendency towards hype.'

'So far our relationship has been very satisfactory in all aspects. We're now concerned because of the far larger fees we'll be charged in future compared with other brokers. We've to decide whether we still think the service is worth the extra.'

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