Hargreaves Lansdown’s Investing App Now Lets You Open An ISA Directly

Is your Money Safe in the HL app?

Yes, HL’s investing app is one of the best and most secure apps for investing, as the company is authorised and regulated by the FCA. Hargreaves Lansdown is one of the most popular investing apps in the UK. For instance, did you know that at its peak, the app and website were used every 9.6 seconds to top up an HL Stocks & Shares ISA.

Fees: There is no account charge for shares in a general account with HL. Funds are charged at 0.45% for the first £250,000. There is no charge for buying funds, but shares are charged at a relatively high £11.95 per deal or £5.95 if you do over 20 deals per month.

Hargreaves Lansdown has recently improved it’s app and now allows users to open several products directly. The HL app now allows clients to open its ISA, LISA and Fund & Share accounts through the app, with more products to become accessible shortly.

In a LinkedIn post revealing the update, Hargreaves Lansdown product leader Michael Loberman said it came as part of the company’s “wider efforts to transform our app and web experience”.

He added: “Keep an eye out for further changes in the coming months. Exciting times ahead!”

In its latest quarterly trading update in November, Hargreaves Lansdown reported client numbers grew by 18,000 in the second financial quarter, up from 8,000 in Q1. 

The growth was attributed to new clients setting up SIPP, ISA and Active Savings accounts.

The firm also revealed its clients had been switching their investments to cash in that update. Client cash balances rose to £12.7 billion during the three months to the end of September, up from £12.4 billion.

The £300 million shift towards cash was driven by net selling of investments by clients in September on fears the government’s annual Budget could include a tax raid, which largely failed to materialise.

Earlier in November, Hargreaves Lansdown launched its Global Income fund on the platform, bringing another easy-to-use portfolio building tool to do-it-yourself investors.

The new Global Equity Income fund invests in a portfolio of dividend-paying companies around the world favoured by selected expert managers. 

In February the firm teamed up with rival platform Interactive Investor to open up the UK Gilt-edged or government bond auctions to retail traders through a partnership with market marker Winterflood Securities.

The group’s revenue rose to £196.5 million in the second quarter of this financial year from £183.8 million in the previous three months, driven by increased dealing volumes and higher assets under administration levels.

What is the App Like to Use?