What are the best alternatives to Hargreaves Lansdown?

What is Hargreaves Lansdown?

Hargreaves Lansdown has long been one of the go-to investment platforms in the UK, known for its wide range of investment options and research tools. 

While Hargreaves Lansdown has much to offer, it has a few downsides.

For example, its fees are tiered: 

• 0.45% annually on the first £250,000
• 0.25% on £250,000–£1 million
• 0.1% on £1 million - £2 million
• Bo charge above £2 million

Trading fees range from £11.95 down to £5.95 per trade for shares.

These fees may lead to investors seeking out cheaper alternatives to Hargreaves Lansdown. The platform also lacks customisation for advanced investors and modern app features, which some users find limiting. 

If you’re looking for Hargreaves Lansdown alternatives that might be a better fit for your style or budget, here are some options to consider.

What are the alternatives to Hargreaves Lansdown?

These alternatives to Hargreaves Lansdown were chosen for their competitive fees, unique features, and range of investment options, providing choices that suit various investing styles and budgets.

These are some of the alternatives to Hargreaves Lansdown worth considering:

AJ Bell

Overview: AJ Bell has earned a reputation for being affordable and user-friendly, with a solid selection of investments for beginners and seasoned investors.

Fees: AJ Bell charges a 0.25% annual account fee. Share dealing fees are £5 per trade, reduced to £3.50 with frequent trading, substantially lower than Hargreaves Lansdown’s per-trade costs.

Key features: AJ Bell’s app offers individual savings accounts (ISAs), self-invested personal pensions (SIPPs), and general investment accounts (GIAs), as well as a wide range of stocks, exchange-traded funds (ETFs), and funds. It is easy to navigate, making it great for investors looking for flexibility.

Pros:

• Wide selection of investment options, including ISAs, SIPPs, and GIAs.
• An intuitive app that’s easy to navigate.

Cons:

• Limited features for in-depth portfolio customisation.

Who it’s best for: Great for cost-conscious investors wanting many investment options.

Interactive investor

Overview: Interactive Investor’s subscription-based pricing is ideal for those with larger portfolios, making it a solid option for high-value accounts.

Fees: Instead of charging a percentage, interactive investor offers a flat monthly fee starting at £4.99 for an ISA or trading account, rising to £11.99 for portfolios over £50,000. The monthly fee for a SIPP is £5.99 or £12.99 for portfolios over £50,000, and it costs more for an ISA, SIPP and trading account. UK trading fees are £3.99 per trade, significantly lower than Hargreaves Lansdown’s starting fee of £11.95.

Key features: Interactive investor offers ISAs, SIPPs, and GIAs, with a wide selection of stocks, ETFs, and funds. The platform is a good option as a Hargreaves Lansdown alternative as it is well-equipped for investors who want various options.

Pros:

• Wide range of investment choices.
• Simple, subscription-based account structure.

Cons:

• The interface may seem basic for those seeking interactivity

Who it’s best for: An excellent choice for confident investors looking for predictable fees.

Freetrade

Overview: Freetrade makes investing easy and affordable with its commission-free trades, designed especially for those who want to get started without high fees.

Fees: Freetrade offers zero commission on UK trades, making it a cheaper alternative to Hargreaves Lansdown. For non-UK trades, an FX fee of 0.99% applies to the free plan (this reduces to 0.59% and 0.39% for the standard and plus plans). The standard ISA costs from £4.99 per month, with no additional management fees.

Key features: Freetrade is a mobile-first platform with ISAs, GIAs, and a range of stocks and ETFs. It’s ideal for beginners or anyone looking for a no-fuss investing experience.

Pros:

• Offers fractional share investing.
• Simple, beginner-friendly app.

Cons:

• Limited investment options if you want more advanced choices

Who it’s best for: Best for beginners interested in commission-free stock and ETF investing.

Trading 212

Overview: Trading 212 is another commission-free option, giving you access to a wide range of global stocks and ETFs through a user-friendly app.

Fees: Trading 212 offers zero-commission trading and no custody fees, with only a 0.15% FX fee for non-GBP transactions, providing a much lower-cost option than Hargreaves Lansdown.

Key features: With ISAs and GIAs, Trading 212 lets you invest in global stocks and ETFs. The app is easy to use, and there are some handy educational resources, making it ideal for newer investors.

Pros:

• Access to global stocks and ETFs, offering diverse investment choices.
• Educational tools for beginners.

Cons:

• Few portfolio management features for experienced investors.

Who it’s best for: A great if you’re looking for a fee-free, globally focused platform.

Vanguard 

Overview: Vanguard keeps things simple with a focus on low-cost index funds, ideal for investors who like passive strategies.

Fees: Vanguard’s 0.15% management fee is capped at £375 for accounts over £250,000, which makes it a cheaper alternative to Hargreaves Lansdown for larger portfolios. However, unlike Hargreaves Lansdown, Vanguard doesn’t support individual stock trading, focusing solely on funds and ETFs.

Key features: Vanguard offers ISAs, SIPPs, and GIAs with access to its range of funds and ETFs. The platform is straightforward and aimed at investors who prefer a low-cost, hands-off approach.

Pros:

• Straightforward platform for ease of use.
• Focus on low-cost passive investments.

Cons:

• Limited to Vanguard products, with no individual stock options.

Who it’s best for: Best for passive investors wanting low fees and a focus on funds.

Learn more: what are the best alternatives to Vanguard?

Nutmeg

Overview: Nutmeg is a robo-adviser offering goal-based, managed portfolios, which is designed for investors who prefer automated investing.

Fees: Nutmeg’s management fees start at 0.45% for fully managed portfolios, reducing to 0.35% for amounts over £100,000 (except for fixed allocation, which falls to 0.25%). While this can be higher than Hargreaves Lansdown for large portfolios, there are no trading fees, which can be attractive for smaller accounts.

Key features: Nutmeg provides ISAs, lifetime ISAs, and GIAs, with ready-made portfolios suited to different risk levels. The app is user-friendly and perfect for investors looking for hands-off, managed portfolios.

Pros:

• Goal-based, automated portfolios.
• User-friendly app for passive investing.

Cons:

• Limited options for investors who want direct control over their choices.

Who it’s best for: Ideal for investors seeking managed portfolios and a goal-focused approach.

Get expert financial advice

Finding the right Hargreaves Lansdown alternative depends on your individual investment needs, whether it’s lower fees, more hands-on options, or a user-friendly app experience. 

Take time to compare features and costs to choose a platform that aligns best with your financial goals.

Let Unbiased match you with a professional financial adviser to support your investment goals and offer tailored advice specific to your needs.