Hargreaves Lansdown Share Discussion Threads

[yf23_1] 19/7/2023 22:13

Never bet against momentum -Capt. Titanic

[stoopid] 19/7/2023 21:51

Nearly 9% up today? Wow..... why? I know results were good, but they weren't that good....Might be a trading opportunity, sell @ 950 and buy back under 900....

[thomstar] 19/7/2023 14:34

Hardluck Pantsdown doing well today

[ochs] 19/7/2023 10:16

@jubberjim, from the update it looks like retention rates remained about the same which is similar to their competitors - at 92%. Just out of interest have you moved to ii, AJB or someone else? I have an account with ii... I've been very impressed with their service and fees, but I would never invest in them as a company, because they must have a very low profit margin!

[ochs] 19/7/2023 10:08

Yes, great to finally see the market giving HL a decent reaction. Statement and numbers look positive and no shocks - this means we can be confident about the full year update in Sept now.

From a charting point of view after taking out 874p (June high) and 886.2p (50% level) the next target is 918.8p (61.8% Fibonnaci). If we can get a daily close above that level then it would be the 1,024p intraday high from February.

[giltedge1] 19/7/2023 07:18

Nice reaction by market, blue sky from here broken all lower supports.

[lomax99] 19/7/2023 07:13

Decent update.

[jubberjim] 19/7/2023 05:30

As a recent departure from HL due in no small part to the deterioration in the levels of service and the mishaps that are driving investors like me to other platforms.

I hope this departure is indicative of a sea change back to the services that were what enticed me in as a recently retired investor.

I will looking at the results with interest mainly to see if my suspicions as to how business has held up in light of the competition for a rapidly dwindling pot of readily available money as has been my view.

Will be left vindicated or with egg on face

Have invested elsewhere so hopeful for a tick up if confidence which to me is sadly lacking returns to market.

But competition is intensifying be careful.

[pugugly] 18/7/2023 19:12

Article in FT slamming Coy - Well worth buying a copy to read. Especially re costs of supposed "improvements"

"Hargreaves Lansdown chair to quit after criticism from co-founder
Peter Hargreaves has said costs are too high and plans for automated advice flawed"

Thoughts and comments from those using HL. -

[pugugly] 18/7/2023 19:07

Article in FT now slamming Coy - Well worth buying a copy to read. Especially re costs of supposed "improvements"

Hargreaves Lansdown chair to quit after criticism from co-founder
Peter Hargreaves has said costs are too high and plans for automated advice flawed

Thoughts and comments from those using HL. -

[stoopid] 17/7/2023 16:41

Jebus, didn't realise that the idiot Penny James (ex DLG disastrous CEO) is the senior independent director at HL.....She nearly broke DLG and was essentially sacked and now she is the one heading up the search to replace Deanna Oppenheimer? Heaven help Hargreaves if she is helping to chose the next CEO...

[ochs] 14/7/2023 20:26

Q4 results statement is out on 19 July which will be an interesting prelude to the later than normal full year results on 19 September.

AJB Q3 results on 20 July too.

[ochs] 14/7/2023 12:40

Whoever wrote that is very out of date on the founder shareholdings - rather lazy journalism - I just checked in the 2022 Annual Report and Peter H has 19.78% and Steve L just 5.71%. They've been reducing for years, especially Lansdown.

[lomax99] 14/7/2023 09:27

MoneyWeek have them as a buy in this weeks edition:Hargreaves Lansdown is a buyIn May, Hargreaves Lansdown (HL) reported annual revenue growth of 28% to £188m for their third quarter (to 31 March 2023). That growth comes as HL refrains from passing on the benefit of rising interest rates to clients holding cash in their accounts, which has more than offset the impact of reduced trading volumes as the FTSE and Aim markets lag well behind the performance of their US counterparts.It remains unclear how sustainable the windfall profits from rising interest rates are. Wise, the currency trading platform, has already said it will share the benefits with customers.HL was founded more than 40 years ago by Peter Hargreaves and Stephen Lansdown, who still own 32% and 20% respectively of the shares capital, despite stepping back from day-to-day operations. Institutions that own the shares include Lindsell Train with a 12% stake and Baillie Gifford with 5%.HL recently reported £132bn of assets under administration (AUA), which equates to a 42% market share of self-directed investors. Management expects the self-directed market to grow to £466bn by 2026 and also sees a broader opportunity in the wealth management area, which it expects to grow to £4trn by 2026. It points to the shift from defined-benefit to defined-contribution pensions, increasing numbers of investors and a recovery in markets as structural tailwinds. The business is investing in technology to try to capture some of this opportunity. HL is proud of its data-driven insights, which include a "diversification nudge" to let clients know if their portfolio appears overly concentrated. It is also investing in cloud-enabled advanced analytical tools. The business has more than 1.7 million clients, implying revenue per client of £420. AJ Bell and Interactive Investor both report slightly higher revenue per client: £455 and £435 respectively.These two direct rivals tend to attract clients with larger balances thanks to their charging structure. HL reports that client retention currently stands at above 92%, so although revenue is not contractually recurring, customer relationships tend to be sticky, as switching platforms can be an administrative headache. HL shares are down by about two-thirds since their mid-2019 peak of £24 per shares. They are on 13-times forecast earnings with a forecast dividend yield of 5.7% for the year to 30 June 2024. HL's market value is 2.8% of AUA, which is a premium to the 1.9% of AUA that AJ Bell trades at.The upshot? I bought the shares a couple of months ago. At the current valuation, investors don't seem to believe that the new CEO or the current IT expenditure will enable HL to take market share from the more traditional wealth managers. Yet the core strategy of providing a low-cost platform to self-directed investors has shown itself to be a higher-margin business and has plenty of opportunity to grow, in my view.

[ochs] 13/7/2023 09:09

Good recovery in recent days. We are up against some resistance now around 831.25p, which is the 61.8% Fibonacci from the 762p recent low to the 874p June high. If we can close the day above 831.25p then next target would be 874p, followed by 885p.

[dickbush] 13/7/2023 09:02

My point was that bad investment advice has never had any financial consequence for the advisor except in the case of fraud. Woodford not involved in fraud, just a massive SNAFU.

[giltedge1] 13/7/2023 08:35

HL is not a wealth manager is a depositary & toll business. Everytime you trade, takes a cut, funds held, takes a commission, & cash from investors or its own cash puts on deposit at now 6%, 'money for old rope'. All from one office in Bristol.

[tenapen] 12/7/2023 14:59

He's gone.

The only way is Up !

[dickbush] 12/7/2023 11:43

If every broker or "wealth manager" was sued every time a recommendation lost money for a client, there wouldn't be any left.

Old saying.

"Want to make a small fortune in the stock market? Give a large fortune to a stock broker."

[tenapen] 09/7/2023 05:19

I'm guessing you don't like HL.

Hahahaha


Mr Hunts Mansion House speech 'could' be positive ..... We will see.

[ochs] 03/7/2023 09:14

Indeed, also when you look at how high German and US markets are that all feeds through to the bottom line as percentage fees on funds are taken monthly, so will be higher in £s as markets remain elevated.

[giltedge1] 03/7/2023 07:33

Seems undervalued in market based on being market leader, success of active savings & cash on balance sheet. Should be able to cut admin costs as well going forward.