Many people own money, yet they don’t risk investing it blindly. Why? Investing money is not a piece of cake because a wrong decision can cost you millions. Therefore, people wish to have a fund platform with expertise that manages their money on their behalf. If you are one of those people and want to know about Hargreaves Lansdown, this article is for you.
Let’s get rolling down!
Table of Contents
What is Hargreaves Lansdown?
Hargreaves Lansdown is a UK-based company. Founded in 1981, this company has appeared to be one of the most prominent stockbrokers. Moreover, this fund managing company has been managing 1.7 million customers’ £132 billion for a long time and has earned people’s trust successfully.
To add to its trust, the top-tier FCA (Financial Conduct Authority) has regulated it. People take Hargreaves Lansdown as a trusting firm due to its long history and its being listed on the stock exchange.
It has also grown to become an FTSE 100, which further makes it a brand worth trusting to keep your money safe.
Can Hargreaves Lansdown Be Good for You as a Beginner?
Yes, if you work with some caveats, it can be good for you as a beginner. The company certainly provides you with many resources that help you learn to invest and earn money. These may include different videos and guides to assist you in making good.
Hargreaves Lansdown also provides you with a great range of options. For example, in Lifetime ISA, the government can give you a 25% bonus when you save for your first home. And a Stocks & Shares ISA for saving tax-free, which is excellent for you as a beginner.
Moreover, if you have no idea about managing money as a beginner, you can also use and enjoy expert-managed investment options. In this option, the company will govern your money on your behalf.
There won’t be much for you after you have entrusted the company with your money. So how will it sound if I say just invest your money, relax and watch your money grow?
How does Hargreaves Lansdown Work?
Hargreaves Lansdown work as a broker- buys and sells investments for you. You create an account and login into Hargreaves Lansdown for buying and selling investments.
Hargreaves Lansdown Investing & Saving Options
Hargreaves Lansdown ranges from different investing and saving accounts which are detailed below:
Investment Account Model
Stocks & Shares ISA
In this account, you can invest up to £20,000 yearly, and everything you make is absolutely tax-free for good!
Share Dealing Account
This account is specifically for general investment, where you can buy and sell on your own will. However, if you make over your profit allowance of £12,3000 per year, you will have to pay Captial Gain Tax.
Stocks & Shares Lifetime ISA
By investing £4000 per year, the government will give you a 25% bonus on whatever you put in there. Nonetheless, this account is particularly for buying your first house or life for over 60.
Cash ISA
By using this account, you can save tax-free cash for a better tomorrow. The current interest rate for Cash ISA is 0.50% which is indeed very low.
Pension (SIPP)
Who does not want a retired life with total financial freedom? This account manages your personal pension investment claiming a tax relief of up to 45%.
Junior ISA
Do you love your kids? If yes, Junior ISA is there to have your back. You can invest £9,000 in this account for your kids’ bright future. This account will have all the biodata of your children, and they will be allowed to access it after they turn 18.
Savings Account Model
If you just want to save your money instead of investing it for a reasonable payback, you don’t need to go anywhere other than Hargreaves Lansdown because it has quite a clever saving account option for you!
In saving accounts, people generally tend to switch when there comes out a higher interest rate. But with Hargreaves Lansdown, no grumbling anymore! The best rate you will find here is about 2% contrasting it to investing, where the average per year return rate is around 8%.
What Other Services Does Hargreaves Lansdown Have?
Fund Finder
This service is a true friend for investors. It allows you to find the fund by unit type, fund type, sector, provider and many more!
Wealth Shortlisting
This service allows you to select funds that Hargreaves Lansdown suppose to have the best profit potential within their peculiar sectors. Furthermore, the Wealth Shortlist has an already list of 71 chosen funds. You can also review their past performances.
Foreign Currency Exchange
With Hargreaves Lansdown Foreign Currency Exchange service, you can exchange 40 different currencies either over the phone or online.
CFDs & Spread Betting
Through its partner IG, Hargreaves Lansdown provides you access to CDFs & Spread Betting. However, you must know that these kinds of products are meant for experienced and active investors.
Hargreaves Lansdown Pros & Cons
Pros
- Excellent app and website
- Extraordinary in-depth research
- Educational tools of high quality
- Inordinate customer service
- Easy-to-use trading platform
Cons
- There is no live chat option available
- High charges fees for ETFs & stocks
- Only GBP-based currency is available
Hargreaves Lansdown Login
If you want to apply for Hargreaves Lansdown online account, the following are the steps that can help you with an easy login.
Step 1
To log in to your account, first, click the ‘login’ button in the top corner of the website. Next, enter your Username. It will be a combination of numbers and letters. Then, enter your date of birth.
Step 2
In this step, you will enter an online password with 3 arbitrarily selected digits from your Secure Number. Moreover, your Secure Number consists of the number you choose when you create your security details in 5 digits.
If you choose two-factor authentication during Hargreaves Lawndown login, you will have to o through one extra step every time you login.
After entering your online password and Secure Number, the company will send a 5-digit confirmation code to your phone or automated phone call. By entering the code, you will finally be able to login into your account.
Final Thoughts: Hargreaves Lansdown Review
As mentioned earlier, Hargreaves is one of the biggest UK brokers with an astonishing historical performance. Their only real drawback is their premium fee structure. But if there’s been a chip on your shoulder regarding managing your investment funds, we recommend you try Hargreaves Lansdown because we believe that a penny saved is actually a penny earned.
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