Hargreaves Lansdown Share Discussion Threads

[spectoacc] 04/8/2024 06:09

Thanks @ACTION.

[action] 03/8/2024 16:48

HL mobile platform is much better than rivals. My 1st hand experience

[eigthwonder] 03/8/2024 16:03

But HL share trading is essentially Peel Hunt's facility. PH have pretty derisory exposure limits per stock and that is immediately reflected in HL's prices to us. Not really an HL failing

[spectoacc] 02/8/2024 15:29

"..Unable to take your transaction..".

Takes the merest hint of a busy market for HL to fall over - really is pathetic.

Will PE ownership make it better? No chance, IMO. They'll invest even less in their systems than HL do now.

Woe betide trading in an actual fast market - you won't be able to buy or sell, as has happened many times before with HL.

[ochs] 23/7/2024 07:23

@JaPatrick, whatever do you mean? It's always the board that have to decide to decline or recommend a takeover approach to shareholders...

[growthpotential] 22/7/2024 22:39

At such a low price?

[japatrick] 22/7/2024 22:01

board need to get out of the way and let management do this deal

[lomax99] 20/7/2024 15:47

The Tide Is Turning for Investment PlatformsHttps://www.bloomberg.com/news/newsletters/2024-07-19/hargreaves-lansdown-extends-deal-deadline-reports-record-assetsRecord AUM, CVC et al need to significantly increase their current, derisory, offer.....

[growthpotential] 19/7/2024 18:17

They should stop extending the deadline

[ochs] 19/7/2024 12:11

Yes, from the RNS it's appalling that all the board seem bothered about is the intricacies of the offer and not the price!

[growthpotential] 19/7/2024 11:37

Not to mention, the price is ridiculously low, 1140...

[ochs] 19/7/2024 10:25

Reading between the lines it does sound like the stumbling block is the equity offer of 35% which won't be listed - unfair on most HL clients who hold their HL shares in an ISA! Also as Lancaster pointed out in their open letter many funds won't be able to hold the unlisted equity either because of FCA rules limiting the percentage of unlisted securities most funds can hold - rules that were tightened & scrutinised post Woodford ironically!

[stoopid] 19/7/2024 10:08

Deffo something going on behind the scenes. Trying to finesse it through, might even be an increased offer....

[lomax99] 19/7/2024 08:43

Hargreaves Lansdown extends £5.4bn takeover offer deadline againInvestment platform says discussions with private equity consortium led by CVC Hargreaves Lansdown has extended the deadline again for private equity firms to make a takeover offer for the UK's largest retail investment site, which could value it at £5.4bn.The board of Hargreaves Lansdown said it had asked the UK Takeover Panel for a second time to push back the date, as discussions between the investment site and the private equity firms - led by CVC Capital Partners - were "ongoing".The delay comes a month after the group of private equity firms, which includes Nordic Capital and Platinum Ivy, a wholly owned subsidiary of the Abu Dhabi Investment Authority, made an offer of £11.40 a share. The board of Hargreaves Lansdown said at the time it was willing to "recommend unanimously" the proposal.A source close to the situation said the extension, until August 5, was aimed at providing more time for the companies to finalise details of the acquisition such as how it should be structured, which has received some criticism from investors.If the takeover goes ahead, Hargreaves Lansdown will be the latest company to delist from the London Stock Exchange in recent months, following a stream of businesses picked off by private equity firms and other acquirers that have taken the view that UK companies are relatively cheap.The trend comes as other UK companies have moved to US stock exchanges to access a deeper pool of investors and attract a higher valuation.Some investors have raised concerns over the potential deal. Lancaster Investment Management said last month it was "unconvinced that this offer is fair for all HL shareholders" due to the way it could be structured.The proposed deal would allow shareholders to reinvest their stock in the private equity group's unlisted vehicle, up to a maximum of 35 per cent of the company's equity. But this could squeeze out funds that are not allowed to own unlisted investments.The Bristol-based company, known for selling financial products such as Individual Savings Accounts and personal pensions directly to investors, was founded four decades ago by Peter Hargreaves and Stephen Lansdown. It recently appointed Alison Platt as chair, while Dan Olley was made chief executive in August last year.Hargreaves, who owns about a fifth of the stock, told the Financial Times last month it was "a disgrace" that the company was in a situation where it could be acquired. "It was classified as one of the best-run companies in the UK 10 years ago," he said at the time.Shares in the company have fallen back from a peak of £24 in 2019 following criticism over the cost of its technology overhaul under previous management. Shares were trading at about £11 early on Friday - although the stock exchange was suffering from a technical glitch.Hargreaves Lansdown reported that assets on its site had reached a record £155.3bn following an influx of customers and investments ahead of the tax year-end in April. It attracted 24,000 new customers, marking an increase from 13,000 in the same period a year ago. Ben Bathurst, analyst at RBC Capital Markets, said the number of new clients was "stronger than expected".

[stoopid] 19/7/2024 08:23

Currently bang on the sale price of 1100.Personally, this consortium have already nailed their flag to the mast so to speak. They plan to take loads of money out of HL. Part of the sale price is coming from HL itself in the form of the upcoming Divi.They want it as cheaply as possible, probably all sorts of shenanigans going on behind the scenes with the big shareholders.....

[stoopid] 19/7/2024 08:19

Thought they had to make an announcement by today??Close of play? After market closes??

[lomax99] 19/7/2024 07:09

Trading update19 July 2024Hargreaves Lansdown plc today issues a trading update in respect of the three months ended 30 June 2024.Highlights• Positive tax year end activity with increased gross inflows, net new clients and share dealing volumes versus last year.• Net new business of £1.6 billion in the period and closing Assets under Administration ("AUA") a record £155.3 billion.• Net new clients of 24,000 in the period, up 85% year on year, with 1,882,000 active clients now on the platform.Dan Olley, Chief Executive Officer, commented:"While we still have more to do to deliver against our strategic priorities, we are making progress and I'm pleased to seeongoing good momentum this quarter, with a further net new 24,000 clients joining HL, £1.6 billion of net new businessgenerated and a record closing AUA of £155.3 billion for the full year."Our ongoing focus on client service, client experience and value continue to deliver results, with client NPS for the secondhalf of the year, which includes the busy tax year end season at 44, up from 41 for the first half of the year."Striving for excellent client experience also means giving clients what they want, whether that's fully managed or passiveproducts at a lower cost. Our recently launched range of Managed and Multi-Index Funds proved popular exceeding ourtargets for launch, and generated £0.4 billion of the £0.5 billion growth in our HL Funds range across the quarter."As momentum across the business comes through in our results, we will continue to invest in the value proposition forour clients, delivering client service excellence, improving the client experience and enhancing overall client value overtime.""We operate in a large and growing market, and our purpose, to make it easy to save and invest for a better future hasnever been more relevant, so we welcome the new government's early focus on growth and encouraging more people toengage with their finances. Our scale, trusted brand and unique data insights combined with our focus on increasing thepace of strategic execution will deliver sustainable growth for the benefit of all our stakeholders."Trading performance• Net new business of £1.6 billion in the quarter (Q4 2023: £1.7bn), reflects continued momentum around tax yearend from Q3. Net flows on to the Platform were driven by clients as they focused on utilising their ISA and SIPPallowances. Active Savings continued to perform well and benefited from the previous quarter's multi-bank cashISA launch, providing clients with a range of ISA products (fixed-term, easy access and limited access) from multiplebanks and from introducing functionality for clients to transfer from their Stocks and Shares ISA to the Cash ISA.• Net client growth of 24,000 in the quarter (Q4 2023: 13,000) driven by net new clients in the SIPP, ISA and ActiveSavings accounts. Client retention at 91.1% (Q4 2023: 92.0%) and asset retention at 87.7% (Q4 2023: 89.7%)continues to reflect the macroeconomic backdrop for those of our clients who need to make cash withdrawals andthe increasing scale of Active Savings.• Share dealing volumes averaged 838,000 per month in the quarter (Q4 2023: 685,000) continuing the increase involumes seen since the first half of the year, with overseas deal volumes representing 20.6% of total deals in thequarter (Q4 2023: 16.8%).• As expected, client cash balances increased at the beginning of the quarter as clients contributed to tax wrappedaccounts ahead of the tax year-end deadline and at the start of the new tax year, before then making theirinvestment choices. At the end of the quarter the client cash balance was £12.4 billion (Q4 2023: £13.1bn).

[ochs] 19/7/2024 06:46

No RNS email notifications from ADVFN this morning?

[techno20] 19/7/2024 06:32

Trading statement on the website for anyone else struggling with RNS newsfeed.

[barnes4] 18/7/2024 17:40

Balls deep 😂😂

🤞🏿

[growthpotential] 18/7/2024 17:36

Announcement tomorrow? This is it, I'm in balls deep...

[lomax99] 18/7/2024 09:53

Who knows, perhaps they are locking in profits in advance of a short term dip in the share price if the bid fails?

[growthpotential] 18/7/2024 09:02

Hi Lomax, Why do they sell if it's undervalued?

[lomax99] 18/7/2024 08:29

Baillie Gifford halves Hargreaves stake, top shareholder says bid 'undervalues' businessHttps://citywire.com/investment-trust-insider/news/baillie-gifford-halves-hargreaves-stake-top-shareholder-says-bid-undervalues-business/a2446608?re=122131&refea=1746813&link_id=1671797

[cousinit] 18/7/2024 08:10

Not sure if you have 2 factor authentication? That was working but the website wasn't