Hargreaves Lansdown

HL are one of the best known stockbrokers in the UK and a publicly listed company. Their fees are relatively high, compared to the no-commission brokers but they do offer services that the challengers don’t yet have.

Today they’re announcing that they’re (finally) removing their exit charges and calling on the rest of the industry to do the same. Although it’s worth noting that it looks like the regulator will ban exit fees soon.

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I wish Quilter would do the same. The exit charges on my private pension are beyond ridiculous - daylight robbery springs to mind.


HL’s biggest source of revenue is their 45bps fee of the platform. I never really understand what’s the rational of chharging that fee… so scrapping the exit fee is really not a game changer to the fees their customers pay.

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The FCA is trying to crack down on exit fees too, asking firms to justify what the customer is paying for (is £100 per line of stock for an in-specie transfer actually a cost or the firm punishing and restricting movement.) The drive to make it easier to transfer between brokers and providers is a good battle to fight but a slow one.

In regards to HL, they have just (2nd Sept) announced their annual report.

I always find these reports very interesting, due to their size they offer amazing insight into the investing world.

Much more buy and hold but they have been savy with the client cash, also sounds like they are seeing some good success with moving users into their high margin wealth like solutions, as the recurring revenue increasing.

Always good to see what they report on! Plus the numbers they put out about the market are extremely useful.


Pretty brutal quote -

Candid Financial Advice founder Justin Modray tells the Sunday Times: “Despite its vast resources, Hargreaves Lansdown’s Wealth 50 success rate looks slightly worse compared with guessing.

Although they did say that -

Hargreaves Lansdown head of communications Danny Cox says: “Investing is for the long term and a year is far too short a time to draw meaningful conclusions.