Hargreaves Lansdown has nearly 2 million clients and manages over £170 billion in assets. It’s trusted, feature-rich, and has an excellent track record. But it’s also one of the most expensive platforms on the market.
The question isn’t whether HL is good. It is. The question is whether it’s worth the premium for your portfolio.
The fee structure
HL charges a percentage of your portfolio annually:
- 0.45% on the first £250,000
- 0.25% on the next £750,000
- 0.10% on the next £1 million
- 0% above £2 million
For funds (unit trusts and OEICs), there’s no annual cap. For shares and ETFs, the fee is capped at £45/year in an ISA.
The £50,000 crossover
The most important crossover for most investors happens around £50,000.
At this level, Interactive Investor’s flat fee of £143.88/year is close to HL’s percentage-based fee. For a £50,000 funds portfolio at HL, you’d pay £225/year. That’s £81/year more than ii.
Use the calculator on our homepage to see the exact numbers for your portfolio.
When HL is worth it
HL makes sense if you:
- Have a portfolio under £20,000 (percentage fees are cheaper at small sizes)
- Hold shares or ETFs (the £45/year cap makes HL very competitive)
- Value the breadth of investment options, research, and customer service
- Prefer a single platform for multiple account types
When to consider switching
Consider switching if you:
- Have a funds portfolio over £50,000
- Are a passive investor who rarely trades
- Want to minimise costs above all else
Before you switch
Switching platforms typically takes 4–6 weeks via in-specie transfer (where your investments move without being sold). The key things to check:
- Transfer fees: HL charges £25 per line of stock for transfers out. Factor this into your calculation.
- Cash transfers: You can avoid transfer fees by selling, transferring cash, and re-buying — but you’ll be out of the market temporarily.
- Protected benefits: Some pension arrangements have protected benefits that can’t transfer.
Always verify current fees directly with both platforms before making a decision.
Fee estimates based on published rates as of April 2026. Always verify current fees directly with your provider.