Hargreaves Lansdown Share Discussion Threads

[ochs] 21/6/2024 18:44

I like ii, but probably AJB is most similar to HL. I've heard bad stories about IG's service level when it comes to things like corporate actions, but have never tried them myself, so can't be sure.

[growthpotential] 21/6/2024 18:14

Any thoughts here chaps? I'm still holding...still a bit disillusioned by it all. By the way, who do you use brokers wise(?) I have about 1/4 with HL and the rest with interactive investor which has quite a large amount of US shares. So although it is apparently low fixed cost I have always been aware I'm getting screwed on the FX there, maybe I need to start accumulating exposures at another stable broker eg IG?

[lomax99] 20/6/2024 15:46

None of that is, conveniently, mentioned in that article (Woodford predating Chris Hill, not pre-dating Peter Hargreaves).

Also Chris Hill brought in Active Savings and built it from virtually nothing to £10bn+ before he left, which firmly sowed the seeds for the profit rebound in D Olley’s first year, following the sharp move in the base rate from 0.1 to 5.25%.

The article is very one-sided.

The best thing PH & SL did was to bring in professional external management, this enabled the organisation to grow someway beyond what they had achieved.

[ochs] 20/6/2024 14:01

Latest interview with Peter H, well worth a read... in fairness to Chris Hill, the changes Peter talks of started before his time, whilst Ian Gorham was CEO (who was picked by Peter!)

[growthpotential] 20/6/2024 13:58

I don't think that's necessarily the case. There's an investor who wants in and sees value at 1,140, in my view that provides a floor and should be priced much higher

[lomax99] 20/6/2024 11:47

Read further down, it says £12.50.

[stagvalley] 20/6/2024 11:44

Ochs, I'm confused. The link you posted has a target of 1140p in line with the price indicated that the consortium will bid at. Wrong link?

[ochs] 20/6/2024 11:24

In their note yesterday Jefferies suggest 1,250p...

www.sharecast.com/news/broker-recommendations/jefferies-lifts-hargreaves-lansdown-price-target-cuts-to-hold--16963510.html

[stagvalley] 20/6/2024 11:07

I'd accept a bid from another UK listed company but not too keen on the current consortium as I would like HL to retain the position of no debt given all my pension is with them. If they are taken over by this consortium I think I might split my SIPP three ways between HL, AJ Bell and ii.

[stagvalley] 20/6/2024 10:58

It's still rising so buyers must expect another offer.

HL could offer a zero cost scheme to move shares from ISA to Fund & Share Account if the board wants this to go through. Otherwise smaller investors may vote it down, especially if they are small investors but larger clients of HL

[stoopid] 20/6/2024 10:07

Bailed at 1155 with an average of about 750. If deal is voted down, this will drop like a stone back to 900 or below and i will buy back in.If there is a further offer, I lose out, that's the only issue, could be a bidding war if another suitor is waiting in the wings....

[misterd1] 20/6/2024 07:49

Me too - there's no way I'm accepting this offer

[growthpotential] 20/6/2024 00:09

Holding this to the end so that I can vote the deal down

[growthpotential] 19/6/2024 17:56

Jefferies think this deal price is cheap and has only been accepted because big holders can hold unlisted shares and basically not sell! As I say, been totally screwed, but hopefully another bidder comes in...

[oggyrocks] 19/6/2024 17:15

Was thinking ig group too. Another bid would have to be 1200+ if there is one coming. Will hold on here now (almost sold yesterday) and see what happens.

[growthpotential] 19/6/2024 17:12

Big trade of over 1 million after market close (?)

[growthpotential] 19/6/2024 17:03

Not very original, a number of large/mid cap US names, but I also have a small position in IG group that I might top up so that I still have some exposure to UK DIY market. Possibly AJ bell for the same reason but no firm decisions yet...

[oggyrocks] 19/6/2024 17:00

What are you going to do with the proceeds?

I’m looking for where to put it.

[growthpotential] 19/6/2024 16:55

I've already been planning what to do with the proceeds but obviously I'll be much happier with a better price, if it must be sold. As I say, this is surely worth closer to 2,000

[lomax99] 19/6/2024 16:31

Whatever the outcome, the shorters have helped facilitate this!

[oggyrocks] 19/6/2024 16:17

Above the offer price now - is there another bid coming !!

[growthpotential] 19/6/2024 12:36

I wonder what Nick Train has to say about it

[adamb1978] 19/6/2024 10:57

Completely agree Ochs that the stub equity bit was set up for the HL founders as a way of keeping the cash cost down and getting them onside. Obstensibly it benefits all shareholders (as it has to with a public offer) though they'll have know that those holding shares in an ISA wouldnt be able to hold it. I'm in that bucket.

[stagvalley] 19/6/2024 10:34

The consortium will also need to remember that larger HL investors pay a bit extra for the quality of service. I have found their service to be consistently good. If they pare that back, they may find people switch elsewhere as there's no point paying more for an average (or worse) service.

[ochs] 19/6/2024 10:20

Yes @AdamB1978 and I don't think the board have thought it through on behalf of private investors who hold HL shares in their ISA (as HL always encourages clients to do!) because the unlisted equity vehicle won't be ISA eligible. Effectively they are shafting many of their own clients and employees by forcing them to take cash when those investors know that £11-10 is very cheap for HL and it's future potential and client base.

I'm sure the equity alternative offer is to appease big shareholders like Peter H and allow them to retain their holding. Sadly he seems to be going along with it if this story is true

Private Equity almost always make job cuts (on average I read 30% of the workforce!) so you'd assume most HL employees would be up in arms about this and they should write an open letter to the board signed by as many as possible making clear there is no need to accept this offer and that the company should remain headquartered in Bristol and be proud of it's roots and independence.