Hargreaves Lansdown Share Discussion Threads

[archy147] 06/6/2019 14:28

Hi guys thinking of investing here - but can anyone please explain why the company has always traded on a PE in the 30s?

[elcapital2018] 06/6/2019 14:18

born loser. He isnt short, he is skint and lives in a tent.

[stewart64] 06/6/2019 13:50

Regarding Hargreaves I think their service is generally excellent..as a frequent trader, £5.95 isn't bad per deal and due to their size they usually offer a discount off the spread. My main criticism is the IT, it just isn't instantaneous on price action no matter what the hardware/ software used. Sure if you stay with one stock or one portfolio it becomes live eventually. But damn annoying switching stocks or portfolios having to reboot half a dozen times to get the live action. Unbelievably poor IT for a company this size.

[porsche1945] 06/6/2019 13:31

Really heading south now, something coming from FCA shortly I assume. Some big sales going through, wonder if Lindsell Train is starting to dump them.

[lomax99] 06/6/2019 13:21

Also added at c 1900p

[montyhedge] 06/6/2019 13:19

Must admit I preferred The Share Centre platform also cheaper, lol.

[its the oxman] 06/6/2019 13:09

Added a few, c.1900p has priced in a bit of reputational damage now and fca investigation seems very unlikely.

[porsche1945] 06/6/2019 12:48

Nicely keeping on sinking, just need FCA to announce an investigation then 14/15 please. Enough ammunition in FT to kick it off altho as usual they will only turn up in time to count the dead bodies. Vanguard will be the beneficiaries, and quite rightly, class outfit, amazing value. Let me think, a muppet like Lee Gardhouse or Vanguard.....

[chucko1] 06/6/2019 12:34

Yes, I use HL and find them and their platform excellent. And I would never listen to their opinion on investments!! But there will some price to pay here - but less than I originally estimated (relative to their overall value). But the short has paid off well so far - I’ve now halved it.

[elcapital2018] 06/6/2019 12:27

chucko I think this is a storm in a tea cup Will have a little fall, but nothing to worry about. Will bounce soon i have no doubt

[lomax99] 06/6/2019 12:16

Compared to the competition, HL are generally a lot more efficient, and innovative, in what they do. They generally make life easier for their investors, people like, appreciate, and will pay for that. Look at the almighty botch Barclays made of their ‘Smart’ investor platform. Consider that Lloyds state as a strategic objective that they want to focus on wealth management, I suspect their ability to deliver efficiently will be on a par with Barclays. Pensions freedom fundamentally changed the long term structure of the market, for those who do not want/can afford to pay SJP’s exhorbitant fees, a platform is the way to go & HL have 40% of the market. For other fund managers, they are ditching their D2C efforts, as it’s not their forte. HL has picked up 10 of their mandates in recent years, others will inevitably follow - they are the default option. Sure the shares may track lower on this ‘noise’, but IMO the LT trend is in other direction, and the ‘competition’ are some way behind. I intend to add, progressively, as this tracks lower.

[hpcg] 06/6/2019 12:08

They didn't, they backed down as people started moving money: httPs://www.moneyobserver.com/news/hargreaves-lansdown-backtracks-investment-trust-charges Trust is very important for investment platforms and is about the only moat that exists. Erosion of trust leads to less business. The by definition unsophisticated investors that kept money with Woodford for a long time, and that used HL, will link the two and will be saying to their friends, 'whatever you do don't use HL, you can't trust them'.

[ochs] 06/6/2019 12:03

Last para of the Lee Gardhouse article - this will hit the HL bottom line, but it might be enough to encourage client's not to leave the HL platform over this... "We’ve also taken the decision to waive our charge to hold the Woodford Equity Income Fund while dealing is suspended. We don’t think it’s fair to charge our clients a fee while they can’t trade in this fund. We have been in communication with Woodford Investment Management to explain why we think this is the right thing to do and have put pressure on them to do the same."

[chucko1] 06/6/2019 11:55

Hpcg, I was unaware of that episode with investment trusts. How did they try explaining that?

[hpcg] 06/6/2019 11:52

It is still priced to perfection, requiring 10 years of steady growth to be anything like a fair price. The AUM, and in particular the fund AUM has to grow. Some things that can limit growth: People look at other platforms. People take notice of the higher platform charge on HL. They are forced to reduce fees. Even more people ditch managed funds for ETFs. Those that want managed funds look to Investment Trusts that have no platform fees. Remember the hilarious episode where they tried to introduce fees for Investment Trusts - that caused plenty to leave, and personally it caused me to open an ISA with IG, which is now my active ISA platform. I think the episode with property open ended funds, not limited to HL of course, really benefited the listing of more and more REITs. It wouldn't surprise me if open ended property funds ceased to exist in under a decade.

[ochs] 06/6/2019 11:47

The HL CIO (Lee Gardhouse) has written a somewhat defensive piece on Woodford - seems he's sticking to his guns for now! He can't even bring himself to say sorry to HL clients, although goes as far as saying the last week has been 'unsettling'... hTTps://www.hl.co.uk/news/articles/woodford-our-view

[chucko1] 06/6/2019 11:37

ElCap, GBoF, can we call a truce? We all know you won’t be exchanging cards! That’s written in stone, but there’s too much fizzy stuff going on with Woodford et al. to punctuate the boards with your inverse love affair. Shout at me instead! On HL, it’s really bad but with a market cap of £9bn, I’m not sure that fines and compensation causes massive damage. This isn’t akin to PPI, so I have reduced my short somewhat. Ain’t going long though, it likely slides lower even without the recent debacle. ElCap, another Odey short!! You know you love them.

[greatballsoffire451] 06/6/2019 10:36

AWWW RIGHT ON CUE HERE COMES THE JEALOUS TROLL hey pig filth - hows NLG coming along ? hahahahahahahahaha

[greatballsoffire451] 06/6/2019 09:13

off she comes. this has only just started folks