Hargreaves Lansdown review
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The UK's largest investment platform with over 1.8 million clients. Huge fund range, research tools, and ISA/SIPP options.
Overview
Hargreaves Lansdown is the largest investment platform in the UK with over 1.8 million clients and £130+ billion in assets. It offers the widest investment range, the most comprehensive research tools, and award-winning customer service. The trade-off? Higher fees.
Who Is Hargreaves Lansdown Best For?
- Active investors who want maximum choice and research tools
- Large portfolio holders — share dealing platform fee is capped
- People who value customer service — phone support with real humans
- Fund investors — the Wealth Shortlist curates top fund picks
- Those wanting everything in one place — ISA, SIPP, LISA, JISA, GIA all available
Fee Breakdown
| Fee Type |
Cost |
| Platform fee (funds) |
0.45% (capped at £45/year for shares) |
| Share dealing |
£11.95 per trade (drops with frequency) |
| ISA wrapper |
Included |
| SIPP wrapper |
Included (£0 admin) |
| Fund dealing |
£0 |
| FX conversion |
1% |
The 0.45% platform fee on funds is significantly higher than Vanguard (0.15%) or AJ Bell (0.25%). On a £100,000 fund portfolio, that is £450/year vs £150 at Vanguard — a £300 annual difference that compounds over decades.
The Wealth Shortlist
HL's most valuable feature is the Wealth Shortlist — a curated list of funds their analysts believe are best in class across every sector. Updated regularly with detailed research notes explaining why each fund was selected. This is genuinely useful for investors who want expert guidance without paying for a financial advisor.
Research and Analysis
This is where HL justifies its higher fees:
- Analyst reports on individual stocks and funds
- Share price charts with technical indicators
- Earnings calendars and company financials
- Investment ideas based on market themes
- Podcasts and market commentary from their research team
You are paying for a full-service platform. If you use the research, tools, and customer service, HL can be worth the premium. If you just want to buy a global index fund and hold it, you are overpaying for features you do not use.
Investment Range
HL offers the widest investment choice of any UK platform:
- 2,500+ funds from all major managers
- Thousands of UK and international shares
- Investment trusts, ETFs, bonds, and gilts
- ISA, SIPP, Lifetime ISA, Junior ISA
- Ready-made portfolios for different risk levels
What Hargreaves Lansdown Lacks
- Cost efficiency — significantly more expensive than low-cost alternatives
- The 1% FX fee — very expensive for international share dealing
- Can overwhelm beginners — the sheer volume of choice can cause paralysis
- Dealing charges — £11.95 per share trade adds up for active traders
How It Compares
For a £50,000 ISA in funds, HL costs £225/year. The same portfolio at Vanguard costs £75, at AJ Bell £125, and at Interactive Investor £155.88 (flat fee). The question is whether HL's research and service justify paying 2-3x more.
The Bottom Line
Hargreaves Lansdown is the Rolls Royce of UK investment platforms — premium service at a premium price. If you want maximum choice, excellent research, and someone to answer the phone when you call, HL delivers. If you are a passive index investor who does not need any of that, you are leaving money on the table by not choosing a cheaper platform.
Pros
- Widest investment choice in UK
- Excellent research and analysis
- ISA, SIPP, and Junior ISA
- Award-winning customer service
- Wealth Shortlist fund picks
Cons
- Higher platform fees
- Trading fees on shares
- Can be overwhelming for beginners