Hargreaves Lansdown scraps fees for savers

No fees on investing in shares and ETFs

Elliot Gulliver-Needham
clock • 1 min read
The changes will apply to new and existing clients.
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The changes will apply to new and existing clients.

Hargreaves Lansdown has removed and cut fees from several of its services, reducing the total cost for regular investors.

Yesterday (11 April), the firm said it would remove the charge of £1.50 per deal to invest in shares, investment trusts and ETFs through regular savings by direct debit, bringing the products in line with the active funds it offers.

In addition, the firm removed the charges to reinvest dividend income into shares, which was previously charged at 1% of the reinvestment value, with a minimum charge of £1 and a maximum charge of £10.

The changes will apply to new and existing clients.

Last month (13 March), the firm cut platform fees on HL Lifetime ISAs to 0.25%, while removing all platform charges and online share dealing fees on its HL Junior ISA.

Ruchir Rodrigues, chief client and commercial officer at Hargreaves Lansdown, said: "Cutting the cost of regular saving is a further commitment to support those at the start of their investing journey and pass on our success on to loyal clients through improved products, better services and greater value.

"We are in a strong position to make these changes now with continued growth in client numbers, revenue, market share and retention."

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