Hargreaves Lansdown users with large share, trust or ETF portfolios and those who invest in funds could face higher charges as Britain’s most popular Isa and pension provider overhauls its fees for the first time in more than a decade.

The platform provider, which was taken over by private equity firms last year, will cut its annual charge for Isa, self-invested personal pensions (Sipp) and trading accounts from 0.45 per cent per year to 0.35 per cent from 1 March this year.

However, investors will pay a trading fee when buying funds, and Isa users who own shares, trusts or ETFs will see the annual cap on their charges more than triple.

Hargreaves estimated that eight in 10 customers would either face no change or be better off, while it said half of its customer base would be better off.

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It will increase the annual cap for those who own shares, trusts or ETFs in an Isas to £150 from £45 a year, however, it will decrease the cap from £200 to £150 for those using Sipp and drawdown accounts. Under the old pricing structure, there was no annual charge for holding shares in a GIA.

Hargreaves will also reduce its share trading fee to £3.95 for those making 20-plus trades a month, down from £5.95. Infrequent traders will benefit more, with the cost of those making 0-10 trades per month falling from £11.95 to £6.95. Users making between 10 and 20 trades will now also pay £6.95.

While this is good news for frequent share traders, the pricing restructure is not positive for investors who deal in funds, as the provider is introducing a fund trading fee of £1.95 per trade. At the moment, there is no fee for trading funds. 

However, those who use Hargreaves’ regular investment service will still receive free fund and share trades.

A customer with £250,000 invested in funds in an Isa, Sipp or GIA and who makes 24 fund trades a year will be more than £200 better off, as the savings from the headline annual charge compensate for the trading charges.

However, someone with £300,000 split evenly between funds, and shares, trusts and ETFs, and who makes 12 trades each every year, would be £18 worse off, as the increase in the share charge cap overpowers trading savings.

When the platform was taken private, it was assumed the new owners would look to change charges and invest in renewing its technology, to maintain the company’s lead as an Isa and personal pension provider.

Hargreaves had just shy of 2mn customers and accounted for 16 per cent of the consumer platform market as of April 2025, according to analysts Boring Money.

Other fee changes

Foreign exchange (FX) charges are also changing. Previously, it charged 1 per cent for transaction values between £0 and £5,000, 0.75 per cent for transaction values between £5,000 and £10,000, 0.5 per cent for transaction values between £10,000 and £20,000 and 0.25 per cent for transaction values above £20,000. 

From 1 March, it will charge 0.99 per cent for transaction values between £0 and £10,000, 0.5 per cent for transaction values between £10,000 and £25,000, and 0.2 per cent for transaction values over £25,000. These charges will also apply to its Junior Isas. Prior to the fee change overhaul, there were no FX charges for online trades made within a Junior Isa. 

Hargreaves Lansdown is also adjusting its charges for telephone and postal dealing, introducing a flat £29 fee for both shares and funds. Before, fund dealing was free by telephone and post, while there was a 1 per cent fee for share dealing, with a £20 minimum and £50 maximum fee. 

Finally, the platform is reducing the account charge for its Ready-Made Pension plan to 0.15 per cent per year from 0.45 per cent per year. When combined with its ongoing fund charge of 0.3 per cent per year, the overall cost for its Ready-Made Pension plan will reduce from 0.75 per cent per year to 0.45 per cent per year.