Hargreaves Lansdown are what I like to think of as one of the “Big Boys”. These guys are a professional outfit for serious investors, with the full end to end service, support and research.
They are the first broker I ever put my money into, and I am still with them today.
I have some of my bigger positions with Hargreaves Lansdown, the positions I know I will have for the long term. They are also the only place I have investments in funds at the moment.
Hargreaves Lansdown are worth almost $8 Billion and because they are so big and professional, you do feel safe investing with them. Their customer service has always really quick and effective too.
As well as the security and the customer service, another big reason I invested here over some of the cheaper brokers, was because of the apps and website. The website has a lot of information available on the assets you want to invest it, so you can do a lot of your research directly. However they also provide you with a lot of their research so you can use that as an input too.
Not only do I use a lot of the information on their site, but I am also registered to several of their email notifications and get daily and weekly news events and research.
They also provide advise and educational material which is useful when you are first starting out.
The app is really good and is simple and easy to use. To me that was important when I first started out. With all the information to learn and the nerves of investing your money for the first time, the last thing I needed was a complicated and scary app.
I use their watch lists on the app to monitor all my investments, as it converts everything to GBP for me, which is useful when you have stocks in several currencies.
The only negative about Hargreaves Lansdown is the trade commission. At £11.95 per trade (there are discounts for regular trades), it is one of the more expensive brokers per trade. However they do not charge inactivity fees, where some of the others do.
The commission price is the reason I use these mainly for my big long term positions or my fund investments. I learnt early on that you need to understand the impact of the commission and fees on your investment. One of my early mistakes was taking out a small position in a foreign speculative stock and then realised I needed it to increase 20% before I broke even on the commissions and Forex charges.
All this being said, you do get what you for. If you want the all singing all dancing investment broker then Hargreaves Lansdown is a great option that I will continue to use. If you want a cheap, execution only broker, then you need to go else where.
“Price is what you pay. Value is what you get”Warren Buffett
Click the link below to visit the Hargreaves Lansdown site.