Hargreaves Lansdown Review (October 2026): My Honest Verdict

Looking for an honest Hargreaves Lansdown review from somebody who has had an account there? I held a Hargreaves Lansdown Stocks and Shares ISA before I moved to AJ Bell, and I still rate HL highly.

This page covers what HL costs in 2026, what it was like to use, why I left anyway, and who I think should pick it over AJ Bell.

Quick disclosure: I earn nothing from Hargreaves Lansdown. There is no referral or affiliate link to HL on this page.

My Verdict in Short

Hargreaves Lansdown is a good platform. The phone support was fab and dealing with them was easy.

I moved my ISA investing to AJ Bell because its fees were slightly lower. That is still true after HL's 2026 price changes. The gap is small for most people, so if HL's service or its advice team suits you better, the extra cost is a fair trade.

What Is Hargreaves Lansdown?

Hargreaves Lansdown, usually shortened to HL, is a UK investment and savings platform based in Bristol. It has been running for over 45 years, says it has more than 2 million clients and calls itself the UK's number one investment and savings platform.

You open an account, pay money in and buy funds, shares, investment trusts and ETFs inside it. The main accounts are:

• Stocks and Shares ISA, the one I had, for investing up to £20,000 a year free of UK income tax and capital gains tax
• SIPP, HL's self-invested personal pension
• Lifetime ISA and Junior ISA
• Fund and Share Account for investing outside a tax wrapper

HL also runs cash savings accounts and a paid financial advice service. I only ever used the Stocks and Shares ISA, so that is what this review is about.

Hargreaves Lansdown Fees in 2026

HL changed its pricing in 2026 and the old 0.45% fee you see quoted on a lot of older pages has gone. These are the Stocks and Shares ISA charges from HL's own charges page, checked on 27 October 2026.

What that means in pounds, for a portfolio held in funds:

If you mostly hold shares and ETFs, the caps matter more. HL's cap works out at £150 a year and AJ Bell's at £42, so once you hold more than about £43,000 in shares at HL you hit the cap, and AJ Bell stays cheaper at every size.

The fund manager's own charge sits on top of all of this on both platforms. HL says it negotiates discounts on more than 500 funds, which can claw a little of the difference back if you hold those funds.

How I Used Hargreaves Lansdown

My HL account was a Stocks and Shares ISA. I used it for stocks and shares and nothing else, so I never touched the SIPP, the Lifetime ISA or the advice service, and I did not lean on the research tools.

The phone support was fab. Dealing with HL was easy every time. For an account holding real money, support is the thing I care about most, and HL got it right.

I moved because of fees. AJ Bell was a bit cheaper, so I moved my ISA investing there. That was the whole reason, and the difference was minor.

My HL account is still there with £0 in it. I never closed the login, and I still recommend HL to people who ask.

What I have not done: I have never paid for HL financial advice, I have never referred anyone to HL and nobody referred me. If you want a review of HL's advice service, this is not it.

Hargreaves Lansdown vs AJ Bell

I have used both, so this is the comparison I can speak to.

AJ Bell is cheaper. It wins on the account charge for funds, the cap on shares and the cost of every online deal. On £50,000 of funds the gap is about £50 a year.

Both have excellent phone support. HL's was fab. AJ Bell's has been better still for me: I get through to a person in what feels like under 30 seconds, and over six or seven years it is the best telephone support I have used anywhere.

HL has more under one roof. If you think you will want paid financial advice at some point, HL can provide it from the same company that holds your ISA. AJ Bell's main platform is do-it-yourself. HL also publishes the Wealth Shortlist of funds its research team has picked and a ready-made range for people who do not want to choose.

If you are happy to pick your own investments and want the lower bill, choose AJ Bell, which is where my own ISA is. My AJ Bell review covers it in full, and new customers who fund £10,000 within 120 days can get a £100 Amazon voucher each through my AJ Bell referral link. If you want HL's advice team, its ready-made options or simply the biggest name in UK investing, HL is a good choice and the extra cost is modest.

For the other platforms, including the zero-fee apps, see my ranked guide to the best stocks and shares ISA in the UK.

Who Should Pick Hargreaves Lansdown?

HL suits you if you:

• Want financial advice available later from the same firm that holds your money
• Value phone support and want a UK-based team you can ring
• Prefer a ready-made or shortlisted fund range to choosing from thousands of options yourself
• Are investing large sums in funds, where HL's tiered rate drops to 0.25% above £250,000 and to nothing above £2 million

HL is a weaker fit if you:

• Want the lowest fees. AJ Bell is cheaper, and the free apps are cheaper again if you only want ETFs
• Hold mostly shares and ETFs. HL's £12.50 monthly cap is more than three times AJ Bell's
• Trade often. £6.95 a share deal adds up quickly

Is There a Hargreaves Lansdown Referral Code?

Not that I can find. On 27 October 2026 I signed in to my own HL account to look for a refer a friend link, and there was no refer a friend section anywhere in it. HL's refer a friend web addresses return its page-not-found screen, and HL's own site search returns nothing for "refer a friend".

Older third-party sites describe a £100 HL refer a friend reward that only paid out when the friend paid for HL's financial advice, which costs hundreds of pounds. I cannot confirm that scheme still exists, so I am not promoting a code, and you should be wary of any site selling an "HL promo code" for simply opening an ISA.

If you want a sign-up reward on an ISA, the AJ Bell offer is live and I use it myself: see my AJ Bell referral code guide.

Is Hargreaves Lansdown Safe?

Yes. Hargreaves Lansdown Asset Management Limited is authorised and regulated by the Financial Conduct Authority, firm reference number 115248. You can check it on the FCA Register.

Eligible money and investments are protected up to £85,000 by the Financial Services Compensation Scheme if HL itself fails. Like every investment platform, that protection covers the firm going bust. It does not cover your investments falling in value, which is normal market risk.

HL is rated 4.2 out of 5 on Trustpilot from 21,377 reviews as of October 2026. AJ Bell sits higher at around 4.8, which lines up with my own experience of the two.

Frequently Asked Questions

Is Hargreaves Lansdown any good?

Yes. I held a Stocks and Shares ISA with HL before I moved to AJ Bell, and the phone support was fab. I only moved because AJ Bell's fees were a little lower. HL is large, long-running and FCA-regulated, and it is the one I would point people to if they want advice available from the same company.

How much does Hargreaves Lansdown charge?

As of October 2026, 0.35% a year on the first £250,000 of funds, then 0.25% to £1 million, 0.10% to £2 million and nothing above that. Shares, ETFs and investment trusts are 0.35% capped at £12.50 a month. Fund deals are £1.95 and share deals £6.95 online, and monthly Direct Debit investing has no dealing charge.

Is Hargreaves Lansdown cheaper than AJ Bell?

No. AJ Bell charges 0.25% on funds against HL's 0.35%, caps shares at £3.50 a month against £12.50, and charges £5 a share deal against £6.95. On £50,000 of funds that is about £125 a year at AJ Bell against £175 at HL.

Is there a Hargreaves Lansdown referral code?

Not one I can find. My own HL account has no refer a friend section and HL's refer a friend pages return a page-not-found screen. Older reports tied HL's £100 referral reward to paying for financial advice, and I cannot confirm it still runs.

Is Hargreaves Lansdown safe?

Yes. It is FCA-regulated under firm reference number 115248, and eligible money and investments are FSCS-protected up to £85,000 if the firm fails. That does not protect you from market falls.

Is Hargreaves Lansdown good for beginners?

Yes, if you want support. There is a UK-based phone team, ready-made investments and paid advice available. If cost matters more than support, AJ Bell or a free app will be cheaper.

Does Hargreaves Lansdown charge to transfer out?

No. HL says it is free to open and close any account and it does not charge to transfer to or from other providers.

Does Hargreaves Lansdown offer financial advice?

Yes, as a paid service alongside the do-it-yourself platform. I have never used it, so I cannot review it.

Can I lose money with Hargreaves Lansdown?

Yes. It is an investment platform, so shares and funds can fall as well as rise and you may get back less than you put in.

Where I Would Go From Here

If you have read this far and want the cheaper option, my own ISA is with AJ Bell. Read the AJ Bell review or go straight to the AJ Bell referral code for the £100 Amazon voucher offer.

If HL's support and advice options suit you better, open your account directly at hl.co.uk. Either way, check the current charges before you move any money, and remember that the value of investments can go down as well as up.

Away from investing, I write a free Sunday email on getting the most out of AI, with one of the setups I use explained simply each week. Join The Growth Toolkit here.

More guides on investing and money:

• Best stocks and shares ISA UK 2026, 8 platforms ranked with a full fee comparison
• AJ Bell review, my verdict after seven years on the platform
• AJ Bell referral code, how the £100 Amazon voucher offer works
• Wise referral code, fee-free money transfers abroad
• TopCashback referral code, cashback on things you already buy

Mike McDonnell. I write The Growth Toolkit, a free Sunday email on getting the most out of AI, with the setups I use explained in plain English.