Hargreaves Lansdown

Hargreaves Lansdown (HL) is the UK's largest investment platform by assets, serving approaching two million clients with hundreds of billions in assets under administration. Founded in Bristol in 1981 by Peter Hargreaves and Stephen Lansdown, it became the dominant force in UK retail investing largely through its SIPP (Self-Invested Personal Pension), ISA, and General Investment Account offerings, which provide access to thousands of funds, ETFs, investment trusts, and UK and international shares from a single platform.

The fee structure is percentage-based for fund holdings: 0.35% per year on holdings up to £250,000 (reduced from 0.45% effective March 2026), stepping down to 0.25% for the next £750,000, and lower for larger portfolios. This annual custody fee is charged on top of the underlying fund's OCF (Ongoing Charges Figure). For investors holding low-cost index ETFs with OCFs of 0.07-0.20%, HL's 0.45% platform fee is the dominant cost — significantly higher than Vanguard UK (0.15% capped at £375/year) or InvestEngine (0% platform fee for ETF portfolios).

For share trading (individual UK and international stocks), HL charges a fixed dealing fee: £6.95 per online trade (£3.95 with 20+ trades in the prior month), effective from March 2026 — down from the previous £11.95/£8.95/£5.95 tiered structure. There is no annual custody fee for share holdings — only for fund holdings. For investors holding primarily shares rather than funds, HL's cost structure is more competitive.

The platform is the most trusted and most feature-rich in the UK retail market: research, analysis tools, dividend history tracking, financial planning calculators, and customer service quality are all notably above average. HL's SIPP is one of the most highly regarded for UK pension savers. The telephone customer service team is among the most knowledgeable in the industry and available six days a week.

For cost-sensitive ETF investors, HL is expensive relative to newer platforms. For UK investors who want a trusted, comprehensive platform for their full financial life — ISA, SIPP, savings accounts, and share dealing — and value service quality and long track record over lowest cost, HL justifies its fee for many users.