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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Hargreaves Lansdown Plc | LSE:HL. | London | Ordinary Share | GB00B1VZ0M25 | ORD 0.4P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-15.00 | -1.41% | 1,051.00 | 1,048.00 | 1,049.00 | 1,079.00 | 1,035.50 | 1,079.00 | 2,080,992 | 16:35:15 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Security Brokers & Dealers | 735.1M | 323.8M | 0.6833 | 15.34 | 4.97B |
Date | Subject | Author | Discuss |
---|---|---|---|
20/10/2023 11:51 | HL charging is ok, just stay away from funds, although they do discount the initial charge on some funds to zero. You're lucky to get interest on cash in a stock account - Barclays pay nowt. | yf23_1 | |
20/10/2023 09:57 | I think longer term platforms like HL will do ok all be it at lower margins.It's the old providers like SJP that will really suffer with their outdated charging methods and expensive business model. | tim 3 | |
20/10/2023 06:44 | In fact it’s got so bad the regulators have now stepped in. | sunshine today | |
20/10/2023 06:43 | Ochs19 Oct '23 - 17:11 - 2435 of 2437 No @sunshine Today, as Interactive Investor explained in that article an investment platform account is not a high interest account (and never advertises itself as such) and a client is only expected to want to park money in cash in the short term. The interest rates offered by platforms do actually compare favourably with the interest paid by current accounts and some instant access accounts from banks. //////////////// Umm, since when were you personally happy to pay a 50% spread on any other item you invest in.??? Investors expect to be treated with respect not ripped off. More so when the whole ethos of HL is to increase the wealth of its customers. I pointed out 5 years ago that the downfall of HL will be its disrespectful attitude towards its clients. With the shares down massively since ( and falling ) I’ve been spot on. | sunshine today | |
20/10/2023 06:43 | Ochs19 Oct '23 - 17:11 - 2435 of 2437 No @sunshine Today, as Interactive Investor explained in that article an investment platform account is not a high interest account (and never advertises itself as such) and a client is only expected to want to park money in cash in the short term. The interest rates offered by platforms do actually compare favourably with the interest paid by current accounts and some instant access accounts from banks. //////////////// Umm, since when were you personally happy to pay a 50% spread on any other item you invest in.??? Investors expect to be treated with respect not ripped off. More so when the whole ethos of HL is to increase the wealth of its customers. I pointed out 5 years ago that the downfall of HL will be its disrespectful attitude to its clients. With the shares down massively since ( and falling ) I’ve been spot on. | sunshine today | |
20/10/2023 06:33 | Peel Hunt: Long-term potential not priced inHttps://citywire.c | lomax99 | |
19/10/2023 17:17 | Yes when interest rates then they will lose that revenue stream, but that will surely be more than offset by the likely rise in asset values and new inflows as sentiment improves. | riverman77 | |
19/10/2023 17:11 | No @sunshine Today, as Interactive Investor explained in that article an investment platform account is not a high interest account (and never advertises itself as such) and a client is only expected to want to park money in cash in the short term. The interest rates offered by platforms do actually compare favourably with the interest paid by current accounts and some instant access accounts from banks. | ochs | |
19/10/2023 16:48 | A fair margin would be 15% max Thus today HL should be offering at least 4.5% on cash balances held by clients . | sunshine today | |
19/10/2023 16:03 | FT a couple of days ago. The banks are the real shockers! Investment platforms under scrutiny over interest paid on customers’ cash FCA to focus on the issue under new consumer duty requirement to provide fair value Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at Investment platforms are facing scrutiny from the financial regulator over the amount of interest they pay on customers’ cash deposits as they reap rewards from soaring rates. DIY trading platforms including Hargreaves Lansdown and AJ Bell have reported bumper profits in recent weeks despite clients making fewer trades and holding smaller asset portfolios, with the windfall largely driven by interest paid by banks where they deposit customers’ money. The Financial Conduct Authority last month wrote to platforms’ chief executives to notify them of its “immediate focus” on their retention of money made from interest payments as part of its new consumer duty policy that requires financial services businesses to provide “fair value” to customers. The move follows an investigation into high street banks in July over accusations they were “profiteering& Retail investment platforms have struggled to attract new business this year as the cost of living crisis leaves investors with less money to play with. They are also being hit by a long-term shift from actively managed assets to passive index funds and competition from cheaper upstart platforms and “robo advisers”, which provide automated financial guidance. However, the so-called fund supermarkets have still benefited from money generated on clients’ deposits. Platforms lend client deposits to banks at the sterling overnight index average rate and pay out a lower interest rate to clients, keeping the difference between the two. For example, an investor who holds £20,000 of uninvested cash in an ISA wrapper on AJ Bell can expect an annualised interest payment of 2.2 per cent (£440), while the platform could earn £1,040 interest on the money at the current rate of 5.2 per cent. AJ Bell said it managed cash “over the long term using a range of terms and interest rates .&thins Hargreaves Lansdown last month beat analysts’ expectations with a bumper set of results after its net interest income for the previous 12 months hit £270mn, up from £50mn the year earlier. The average amount of cash across the year in its investment accounts was £14bn, only slightly up from £13.6bn the year before. Holly Mackay, founder of consumer financial website Boring Money, said that by extrapolating from Hargreaves’ figures it was not “unreasonable to estimate” that the investment platform sector made roughly £690mn over the 12-month period from interest paid by banks on its customers’ cash. AJ Bell said its “recurring ad valorem revenue” — its interest margin plus a 0.25 per cent custody fee on customer assets — was £75mn in the six months to March 31, up 78 per cent on a year earlier. Interactive Investor, which is owned by Abrdn, recorded a £66mn interest rate margin in the first half of 2023, almost half of the group’s operating profit for the period. The industry has defended its actions, highlighting that customers only hold money on its platforms for short periods and that companies typically pass on most of the benefits of rate rises while keeping customer cash immediately available. “Over 85 per cent of the benefit of base rate rises during the past 12 months has been passed on to clients,” said Hargreaves Lansdown, adding that customers who use its “active savings” products were able to access the top rates offered by high street banks. Interactive Investor said its cash rates were “highly visible” on its website, noting it “continually assesses treatment of interest on cash”. “There can be plenty of circumstances where customers may maintain higher cash balances in the short term,” it added. “We think it is thought-provoking, given we are fundamentally an investment platform, that our rates do not compare unfavourably with many instant-access bank savings accounts.” Analysts from investment bank RBC noted in September that although earnings had been meaningfully higher at the publicly listed investment platforms, their share price slide had continued. “We have concerns that bloated revenues from this source might make profit growth more challenging as/when interest rates do eventually taper,” they wrote, noting there was also risk from regulation as the issue garners wider attention. Hargreaves Lansdown’s share price is down 12 per cent this year while AJ Bell’s has fallen 28 per cent. Abrdn, of which Interactive Investor is just one business segment, is 13 per cent lower. Frederic Malherbe, director of UCL’s Centre for Finance who has previously called for banks to be compelled to pass on the benefits of interest rate rises to savers, welcomed the FCA’s attention on the matter. “Together with some pressure to make transfer of funds in and out the platforms easier, this can only increase the competitiveness of the deposit market in the UK,” he said. “The lack thereof has cost enough to savers in the past 12 months.” The consumer duty, a standard by the FCA, came into force on July 31 this year and requires asset managers, banks and other companies to prove that they have acted fairly and transparently and delivered “good outcomes” for customers. | lomax99 | |
19/10/2023 15:25 | 'Some of us remember what a first class business this was They rip consumers off.' -------------------- In what way(s). Do tell. | bend1pa | |
19/10/2023 13:38 | I posted this here 18 months ago /////// sunshine Today - 22 Feb 2022 - 08:42:30 - 1637 of 2431 HL. - HL. I for one are extremely happy I have been proved correct This was my experience 3 years ago. Having read the posts on this site over the last few months here are my views on HL. Most highlight just how bad they have treated clients. I put it to you: Warning bells should be ringing loud and clear, if a FTSE 100 company is constantly getting these exceptional poor ratings on an open review forum. 58% of clients rate HL BAD or POOR First please read my original post dated 6th July 2018,( this can be found lower down the page.) They have since forced me to close my account . ! HL don’t care one tad about their customers, in my view. They have over one million clients picked up over the years, through slick marketing and the fact the competition from the banks has always been so dire. HL make massive profits off the back of clients most of which, ( but not all ) have little understanding of investment. I see even an article written just today, by themselves, encouraging investors to buy on the dips. ( They don’t want redemptions, at all costs, as lower FUM equals lower profits. These profits are 65P for each pound of fee income, unheard of margins within the sector. I believe their greed and very poor customer service will be their downfall, as those that got sucked in over the last ten year bull market suddenly see, their investments can go down the pan, in a market downturn. | sunshine today | |
19/10/2023 13:34 | 10 year low is just what this company deserves. Some of us remember what a first class business this was . They rip consumers off. | sunshine today | |
19/10/2023 11:25 | Same here! - never thought we'd see 10 year lows, bought a few more at 707.5p first thing, and was tempted at 694p, but hesitated, so will hold fire for now. | ochs | |
19/10/2023 11:03 | Haha, no I only have a slender slither of the c £101m holding required to notify!Happy to admit I am well under water. Patience, a lot, required. | lomax99 | |
19/10/2023 10:53 | Close to 3% notifiable yet @lomax99? Sadly when directors don't buy it tells it's own tale - not a single director used their own cash to buy after the excellent full year results release in Sept. | ochs | |
19/10/2023 09:21 | U.K. PI’s obsession with buying shxtty dividend stocks instead of high quality growth…proving just terminal year after year, it’s everywhere on these boards….capita | porsche1945 | |
19/10/2023 09:16 | Dogshiite - nones git any money to invest anymore | thomstar | |
19/10/2023 09:08 | Had a few more. | lomax99 | |
19/10/2023 08:53 | As far as I can work out they are gaining 44k clients a qtr and losing 36k per qtr and it the trend continues the losses may soon exceed the gains. And a bunch of the new clients are active savings so margins there must be paper thin. | cc2014 | |
19/10/2023 08:49 | I get that and I have been trading HL on the peaks and troughs since I first bought in last November at 775. So even at the current share price, because I have been trading it a little I'm still slightly up even at the current share price. But I must admit that the current decline in share price has caught me out. | stoopid | |
19/10/2023 08:39 | Down 5.8%. | action | |
19/10/2023 08:38 | Now at a 10-year low. | robinnicolson | |
19/10/2023 08:36 | My exd target was 700p. This came with divi. To bite or not to bite that is the question. | action | |
19/10/2023 08:34 | Stoopid WE're in a market environment where you need to beat expectations in order for the share price to stay flat. There's much you can do as an investor in this scenario - either try to time the market both in moving to cash and then moving back in, or just checking that your companies are trading ok, have sensible balance sheets and cashflow etc. Adam | adamb1978 |
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