Online Stock Broker Hargreaves Lansdown Boosted by April Investment Rush
The share price of Hargreaves Lansdown, the UK’s market leading online investment platform and stock broker
The company’s share price of 1981 pence looks likely, barring a late drop towards the end of today’s trading session, to set a new all-time high. That will be the case if it can hold above the 1900 level set on January 26
Hargreaves Lansdown offers Brits investing online with a financial supermarket service including stock broking, a funds supermarket and tax-efficient wrappers such as ISAs and SIPPs. The company’s success is particularly notable against the backdrop of the relatively high fixed account management fees it charges. Several of its closest competitors, such as The Share Centre, AJ Bell and Interactive Investors offer lower prices and several no-frills, low budget competitors have recently entered the market. The arrival of giant US fund supermarket Vanguard on the UK market was also thought to pose a threat to HL but so far does not appear to have impacted the business.
UK investors appear willing to pay slightly more for the smooth online experience, strong customer support and added value resources such as research, analysis and market data that Hargreaves Lansdown has built into its investment platform. The company was founded in 1981 by two accountants, Peter Hargreaves and Steve Lansdown. It became a pioneer among the UK’s stock broking companies by embracing the internet age and has made the most of the ‘early bird’ advantage secured by quickly moving online. After a 2007 IPO, the company is now a solid member of the FTSE 100, the biggest 100 companies listed on the London Stock Exchange by market capitalisation. Still based in Bristol, where the first office was opened over 35 years ago, Hargreaves Lansdown now employs more than 1000 staff.
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