Hargreaves Lansdown Review UK 2026: Fees, ISA, SIPP & Verdict

Key Facts

About Hargreaves Lansdown

Hargreaves Lansdown is one of the largest retail investment platforms in the United Kingdom. The company was founded in 1981 in Bristol by Peter Hargreaves and Stephen Lansdown. The entity that operates the investment platform is Hargreaves Lansdown Asset Management Limited, a company registered in England and Wales (Companies House number 01896481) with a registered office at 1 College Square South, Anchor Road, Bristol, BS1 5HL. It is authorised and regulated by the Financial Conduct Authority (FRN 115248). The parent group, Hargreaves Lansdown Limited (Companies House 02122142), listed on the London Stock Exchange; the group was taken private in 2024 following an acquisition. The statutory disclosures page at hl.co.uk/disclaimer confirms the regulatory status and company details of each Hargreaves Lansdown entity.

Other regulated Hargreaves Lansdown entities include Hargreaves Lansdown Fund Managers Limited (FRN 166016), Hargreaves Lansdown Advisory Services Limited (FRN 189627), and Hargreaves Lansdown Savings Limited (FRN 915119 for payment services). All entities share the same registered office at 1 College Square South, Anchor Road, Bristol, BS1 5HL. For investor-facing purposes, the HL Active Savings and bank deposit products are handled through Hargreaves Lansdown Savings Limited, while investment accounts (ISA, SIPP, Fund and Share Account) are operated through Hargreaves Lansdown Asset Management Limited. For discussion of the platform in the context of investment platform selection more broadly, see the best investment platforms UK 2026 hub and UK investment platform guide.

Account types and product range

Hargreaves Lansdown offers a wide range of account types for UK individual investors. These include: the Stocks and Shares ISA (annual subscription allowance up to £20,000 in 2025-26 per HMRC rules), the Self-Invested Personal Pension (SIPP), the Junior ISA (for children under 18), the Junior SIPP, the Fund and Share Account (a general investment account with no annual contribution limit), the Lifetime ISA (for eligible investors aged 18-39), and a Cash ISA. The product universe available within these accounts covers: unit trusts and OEICs (open-ended investment companies, commonly referred to as funds), individual shares listed on major stock exchanges including the London Stock Exchange and US markets, exchange-traded funds (ETFs), investment trusts, corporate bonds, gilts, and venture capital trusts (VCTs). This breadth of product range distinguishes HL from platforms such as Vanguard, which restricts its offering to its own funds and ETFs.

For guidance on how to select between ISA and pension wrappers, see ISA vs LISA vs Pension UK. For background on index fund investing within any platform, see Index Funds UK.

Fee structure: what changed on 1 March 2026

Hargreaves Lansdown made a significant revision to its fee schedule, with changes taking effect from 1 March 2026. The headline account charge for funds held in a Stocks and Shares ISA, SIPP, or Fund and Share Account was reduced from 0.45% to 0.35% on the first £250,000 of assets. The tiered structure above £250,000 was similarly reduced: 0.25% on the portion between £250,000 and £1 million; 0.10% on the portion between £1 million and £2 million; and no charge on assets above £2 million. These reductions make the platform more competitive at all balance levels for investors primarily holding funds.

For shares, ETFs, investment trusts, bonds, gilts, and VCTs held in a Stocks and Shares ISA or SIPP, a charge of 0.35% per year applies, but this is capped at £12.50 per month per account (equivalent to £150 per year per account). This cap benefits investors with large equity holdings within a single account wrapper, as the charge does not increase beyond that absolute ceiling regardless of the size of the share portfolio.

The March 2026 changes also introduced a fund dealing charge of £1.95 per one-off online transaction. Previously, fund trading on HL had carried no dealing charge. This new cost affects investors who make irregular fund purchases; it does not apply to monthly Direct Debit investing or dividend reinvestment, which remain free. The share dealing charge was reduced from £11.95 to £6.95 for investors placing fewer than 20 share trades in the preceding month, and to £3.95 for those placing 20 or more trades. Phone and postal dealing at £29 per trade remained unchanged. The Ready-Made Pension Plan (HL's managed pension) saw its total charge reduced to 0.45% in aggregate (0.15% account charge plus 0.30% investment charge), down from a prior maximum of 0.75%.

Fee examples

For an investor holding £30,000 in funds within an HL Stocks and Shares ISA, the annual account charge from 1 March 2026 would be 0.35% of £30,000, equating to £105. If that investor places four one-off fund trades per year at £1.95 each, the total annual platform cost would be £105 plus £7.80 in dealing charges, totalling £112.80, before fund OCFs. For an investor holding £30,000 in shares, the annual account charge would be 0.35% of £30,000 equating to £105, but this would be lower than the £12.50/month cap only at a share portfolio worth below roughly £42,857. In this example the charge would be £105 per year, below the cap. A share portfolio of £100,000 would hit the £12.50/month cap (£150/year) per account, regardless of the percentage calculation.

These figures exclude fund OCFs and government charges such as stamp duty (0.5% on UK share purchases). For a comparison of total costs across multiple platforms, see investment platform fees compared UK.

Platform features and usability

The HL platform offers research tools, fund and share factsheets, portfolio analysis tools, regular investing facilities, dividend reinvestment options, and access to HL's own managed portfolios and fund lists. The web and mobile interfaces are widely regarded as among the more polished in the UK retail investment market. HL provides telephone support and maintains a branch presence in limited locations. The platform's breadth of available investments and account types, combined with its FSCS coverage and long operating history, makes it a common choice for investors who want flexibility and support alongside their investment activity.

HL does not offer a cash management account in the same way as a current account; cash held within investment accounts earns interest at rates set by HL and published on its charges and interest rates page. The rates on uninvested cash vary and should be checked directly at hl.co.uk.

Regulatory context and clone firm warning

Hargreaves Lansdown Asset Management Limited (FRN 115248) can be verified on the FCA Register at register.fca.org.uk. The FCA has issued warnings about clone firms falsely claiming to be Hargreaves Lansdown; investors should always check the FRN and use the official domain (hl.co.uk) before transferring funds. Authorised status confirms that HL is regulated to provide the relevant investment services, but does not guarantee investment performance. For news affecting UK investors relevant to HL's market position, see SpaceX IPO: what UK investors need to know.

Disclaimer

Frequently asked questions

Is Hargreaves Lansdown regulated by the FCA?

Yes. Hargreaves Lansdown Asset Management Limited (the entity that operates the investment platform) is authorised and regulated by the Financial Conduct Authority with FRN 115248, as confirmed on the HL statutory disclosures page and the FCA Register. The registered office is at 1 College Square South, Anchor Road, Bristol, BS1 5HL (Companies House 01896481).

What is the Hargreaves Lansdown platform fee in 2026?

Following changes effective from 1 March 2026, HL's account charge on funds is 0.35% per year on the first £250,000, 0.25% on the portion between £250,000 and £1 million, 0.10% between £1 million and £2 million, and nothing above £2 million. For shares and equities, the charge is 0.35% per year capped at £12.50 per month (£150 per year) per account in an ISA or SIPP.

Does Hargreaves Lansdown charge for buying funds?

From 1 March 2026, HL charges £1.95 per one-off fund trade placed online. There is no dealing charge for investing via monthly Direct Debit or for dividend reinvestment. Previously, fund trading on HL carried no dealing charge.

What share dealing charges does HL apply?

From 1 March 2026, online share dealing costs £6.95 per trade for investors who placed fewer than 20 trades in the previous calendar month, and £3.95 per trade for those who placed 20 or more. Regular monthly investing by Direct Debit carries no dealing charge. Phone or postal dealing costs £29 per trade.

Is Hargreaves Lansdown covered by the FSCS?

Yes. Eligible investments held through Hargreaves Lansdown Asset Management Limited are covered by the Financial Services Compensation Scheme up to £85,000 per person per firm for investment business. FSCS coverage protects against the failure of the authorised firm, not against investment losses due to market movements.

Can I hold shares and funds together on Hargreaves Lansdown?

Yes. The HL platform supports a broad range of investments within a single account, including funds (unit trusts and OEICs), individual shares (UK and international), ETFs, investment trusts, bonds, gilts, and VCTs. Different charge structures apply to funds and shares within the same account.