Hargreaves Lansdown Share Discussion Threads

[beercapafn] 18/12/2007 12:22

Hi Chaps

Any comment on why H&L has taken such a pounding recent weeks.

Beercap

[isa23] 12/12/2007 11:39

I've been with 5 different ISA / Sipp providers during the last 5 years and HL has been the one I can say I've been truely pleased with. A provider that keeps clients happy doesn't come by easily, which is why many have transfered their holdings to HL. I've bought in at current price and am happy to add on any further price weakness.

[monkeywrench] 12/12/2007 10:41

Leave her alone and get back to work.

[t1lal] 12/12/2007 10:18

looking good for a re-entry now.

[monkeywrench] 01/12/2007 09:31

Don't ask me, ask Mark D.

[hoggetwood] 30/11/2007 16:38

No bad thing, I'm sure, but who are the 'we' who were 'all' taking the ... wee?

[hoggetwood] 30/11/2007 16:11

So what happened at 14.30 today, to initiate the recovery? Good Wall Street opening, a more positive broker's note?

Whatever the reason, H-L seems to have all the makings of a sound trading share. It's kept cycling up and down by 15% or so. Not investment advice, just an observation.

[isa23] 29/11/2007 17:40

Thought this might be relevant for this board. It's from Citywire:

Investec has begun its coverage of Bristol-based Hargreaves Lansdown by issuing a sell note on the firm.

Shares in the company have also been hit by Citigroup shifting its own rating from buy to hold.

Investec has set a price target of 170p, below the current share price of 199p. The move sent shares in the wealth manager plunging 4.89% on the day.

In its note on the stock Investec said that poor stock market conditions could prevent it hitting its full year targets for 2008.

Ironically though Citigroup took back its buy rating on the company it actually increased its price target from 250p to 255p.

However, it backed Investec's analysis that the group is heavily exposed to the progress of equity markets.

It said: 'We would require greater certainty on equity markets, the ISA season and thus earnings upgrades to return to a buy case.'

The firm, which went public earlier this year when founders Peter Hargreaves and Stephen Lansdown released a portion of their stake, is a top holding for a number of leading smaller companies managers.

[kenlum] 29/10/2007 11:22

Interesting to look back on the messages on this thread; got 6.000 @ isue and toped up at 210 - looking good and am holding for medium/long term. Takeover unlikely in first two years

[hoggetwood] 20/9/2007 10:39

To be both h-l client and h-l investor is a sort of hedging strategy. And I haven't been paid to post this!

[amitkoth] 04/9/2007 20:44

mcti - yes I think it's the other RAB class I want for my SIPP. If I hold it 10-20 years, the lesser management fee makes an exponentially greater difference. I take your point about income funds being re-invested. However, it still makes sense to purchase all your units now rather than at higher and higher prices periodically in the future, especially over say 10 years. The effect is not "smoothing" - it's simply - lower returns.

Wealth 150 is just for show, it's complete nonsense, devoid of any real measures other than superficial subjective things. Apparently, they send people to interview these fund managers from H-L. They must be having a great time on expenses doing nothing much - it's not like the fund manager's personality and statements/philosophy is hidden from the public.

Most important of all, and one that will directly affect my long term SIPP and ISA is the 0.5% shares holding charge. Apparently this is capped at £200 a year (is that across all accounts or just for SIPP and just for ISA?). I guess this means that to benefit from the cap savings, you must have £40,000+ in chargeable funds.

[ccnp] 04/9/2007 10:43

they make changes on bank accounts which unarguably make them more money.

they put it down to efficiency - aka it saves them money

they make changes to draw down of funds which put the money in their account to earn interest rather than the clients. and we are not talking about a few hundred quid in HL terms

they pass none of that benefit on to clients only to investors

you call that sceptical ? LOL

[ben2003] 04/9/2007 09:03

I understand that the changes are in place to speed up administration fior the online platform. Surely this will be a good thing.

Are you not just a bit sceptical.

[ccnp] 03/9/2007 21:24

tiered interest. the more savings you have, the more interest you get. but hl failed to say this so you and i do not benefit.

second, now when you commit to fund they take the money immediately, not on the deal date

both are small individually but to hl, they are sizeable. but we get non of it. it all goes into their pockets.

greedy

[mcti7bg2] 03/9/2007 18:35

amitkoth,

I believe the logic in pushing the income funds is that equity income funds have done the business very effectively over the years, particularly if income is reinvested. By using the accumulation units within a SIPP you're affectively using a growth fund annyway. On the cheaper management fees for the RAB product - is it the institutional share class that they're not letting you use that has a high minimum investment level (eg £250k)?

The 0.5% hit on holding shares is not good for clients, but must make them a shedload of revenue. I would imagine it would reduce if serious competition appeared, although would be unlikely to go completely unless they started a Selftrade style £25 annual fee for ISAs/PEPs/etc.

CCNP - I was previously with a mid size UK fund group and despite our company paying v.good trail commission (not many would pay much more unless they're not-for-profit fund houses) to HL it was pretty clear that as our sales team didn't have a great relationship with HL we were losing out on getting on the 150 list. There aren't quant measures to select funds as a lot of new funds appear (often Schroders, New Star) and are thrown straight on it.

[amitkoth] 03/9/2007 16:31

gah - repeated post, whoops!

[amitkoth] 03/9/2007 16:30

CCNP - I got the letter about the change in client cash funds. I assume you mean the one where they said funds are now going to be pooled. Does this serve them an advantage?

Another thing to note, which I'm sure clients are aware of ;-)
... holding cash or individual stocks attracts a 0.5% charge in all their products, I believe. Anything other than funds in other words. I'm sure there's other services that pool funds and give you back referral commission, H-L can't last forever with no major competition.

I'm also pretty cheesed off with them not using the cheaper versions of accumulation funds I wanted (with cheaper management charges) e.g. RAB European Dynamic. Plus the constant songs about PSigma and the baldy who leads it is getting annoying. They of all people should know that SIPP/ISA type investments don't look for income, but capital growth in their wrappers. So why drone on about some income fund which pays less dividends than holding certain stocks? I couldn't care less if the fund manager is their chum

[mintpenguin] 03/9/2007 12:59

looks like the market is anticipating good results??

[ccnp] 02/9/2007 19:03

I suspect that is rampant optimism.

HL are very focussed on their margin as the upcoming changes to client cash funds on SIPPs, which they say is for our benefit, is in fact for theirs alone demonstrates.

You might ask them if they pre qualify the list or employ any qualification techniques which include a measure of the margin HL will make.


As a family, we used to be impressed by both their competence and their fairness. We know realise they are putting front trotters into the trough along with the snouts. At our expense.

Perhaps the focus has changed to trenche 2 valuations from making money for clients

[mcti7bg2] 31/8/2007 15:56

tyranosaurus,

I am pretty sure that the Wealth 150 is selected on the strength of HL's relationships with fund management groups and is not commission driven. Must be said there are certainly a number of dog funds in their recommended list.

Any thoughts on the upcoming results?

[garycook] 29/7/2007 11:31

Glad I took my profits,also took my holdings out of the Vantage service and moved to Hoodless Brennan,charges to expensive with HL would also take my SIPP away but to be fair its the cheapest one on the market.Would advise all HL Shareholders to cash in there profits now the stock is overvalued.

[tyranosaurus] 28/7/2007 11:19

They are too slow updating my portfolio on their website.
A fund was bought 8.00am Wednesday morning but at 8.00am Friday morning it was still showing as a pending order.
They keep on plugging the Psigma Fund to their clients although it has underperformed from Day One. That was well before the market wobbles. Makes me wonder whether they get more commission from this one. Looking after themselves at the expense of their clients.

[hoggetwood] 20/7/2007 11:13

Rex: What problems have you had?