Hargreaves Lansdown

rodders

rodders

rodders

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Joined
14 Dec 2004
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I thought I would put a little bit away each month in their Vantage Stocks & Shares ISA.
On the application it asked who I wanted to invest in. I thought it was a choice of I invest or let them do it for me.
I didn't complete the application, i.e. click 'submit application' and did a bit more reading.

It looks like they will only hold cash for me and I have to invest it?

If they hold only cash, I wont make any money, but they will charge me yearly fees?

I now have an email saying the account is open, even though I didn't click 'submit'

I don't know what to do now, try and invest or shut it down, if I can shut it down. I assume there will be a charge for that as I cannot see anything about a cooling off period.
 
Yea. To be honest I'm a little confused over all trade costs and things. I don't really know what I'm doing, lol. I just wanted to give someone some monthly money and they invest for me. I'm not to worried about high risk. I'll give them a ring in the morning.
 
Hargreaves Lansdown is a platform which allows to invest in funds and they charge you a fee to so. You need to choose the funds to invest in from the selection available. The fund then takes your money and invests it in a portfolio of securities, each fund will specialise in different types of securities for example UK government bonds or European equities (shares). The fund then charges you a fee for making the investments.

Hargeaves Lansdown is not necessarily the cheapest platform, have a look at the different platforms available on Money Saving Expert here
 
If you don't know what you are doing do you really think it is a good idea to start doing such things with your money?
 
I'm not talking thousands, just a small monthly amount.
But HL is not for me, will cancel today. Well I didn't think I had started as I didn't click submit, lol
 
Buy a book called 'The DIY Investor' published by the FT and invest in some low risk funds. Do use money you need any time soon an be prepared to accept a loss.
 
I can't see how if you didn't submit the application it can possibly have gone through.

As someone else pointed out - you have a cooling off period which allows you to cancel the contract.

In the future - do a bit of research. Overall for a small monthly premium, consider cheap and basic funds at this stage. Tracker/EFT based funds are find until you build up a pot that is worth spreading across various funds/sectors.

Check out Cavendish Online or Charles Stanley Direct as the cheapest options.

Remember you have a Platform/ISA fee, then you potentially have a fund cost or charge, then you can also have a trading fee etc.

Look around at a number of places and do some research and go from there
 
;)
booyaka said:
I can't see how if you didn't submit the application it can possibly have gone through.

As someone else pointed out - you have a cooling off period which allows you to cancel the contract.

In the future - do a bit of research. Overall for a small monthly premium, consider cheap and basic funds at this stage. Tracker/EFT based funds are find until you build up a pot that is worth spreading across various funds/sectors.

Check out Cavendish Online or Charles Stanley Direct as the cheapest options.

Remember you have a Platform/ISA fee, then you potentially have a fund cost or charge, then you can also have a trading fee etc.

Look around at a number of places and do some research and go from there
Click to expand...

Phoned them up and stopped it, no problem. I dont know how it went through, but it did. I just closed the page at the point where it said 'submit'
No harm done luckily, unless they havent really closed it and will do me over later. But asked for proof of closure.

I keep thinking about a bit of investing, just wanted something simple and easy to start with, with a small monthly fee. Money I can loose.

Will read up a bit more. Thanks for all the pointers.
 
rodders said:
;)
I keep thinking about a bit of investing, just wanted something simple and easy to start with, with a small monthly fee. Money I can loose.

Will read up a bit more. Thanks for all the pointers.
Click to expand...

If you want something simple, you might as well use something like ratesetter etc If you wait until April, you should be able to run it under an ISA so will be tax free
 
I keep seeing all this hate for HL but the platform is awesome, the website is never down and the people on the phone are ridiculously helpful. I think it's well worth the extra money compared to my experiences with other online brokers.

It's also good how you can link accounts. I manage all my sisters savings via a linked account.

I use it for all my stocks and shares and monthly savings.

The only thing I wish I could do is hold currency as part of a portfolio which you can do on TDDirect.

How much you wanting to invest a month? And what is your investment horizon?
 
I'm overpaying £125 off my mortgage each month. This will make me the most savings.

I was just going small, 25 a month to start with, won't even notice that. I know it's not a huge amount. Maybe not even worth it? But I wasn't worried about how long it's there for, 5, 10, 15 years. Just forget about it, we'll not completely, lol
 
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