Hargreaves Lansdown

The company was founded on 1 July 1981{{cite web |url=http://www.bristol.ac.uk/pace/graduation/honorary-degrees/hondeg12/hargreaveslansdown.html |author=Public and Ceremonial Events Office |title=Peter Hargreaves and Stephen Lansdown Doctor of Laws |publisher=University of Bristol 16 February 2012 | access-date=2012-04-19}} by Peter Hargreaves and Stephen Lansdown who had initially traded from a bedroom.{{Cite news |work=The Sunday Times |location=UK | title=£9m pay packet for investment chief | url=http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article1433795.ece | archive-url=https://archive.today/20070226122808/http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article1433795.ece | url-status=dead | archive-date=26 February 2007 | date=25 February 2007 | access-date= 4 May 2010 | first=Grant | last=Ringshaw}} Hargreaves Lansdown initially provided information to clients on unit trusts and tax planning matters.{{cite web |url=http://www.hl.co.uk/about-us/history | title=About us|publisher=Hargreaves Lansdown|access-date=15 March 2015}} Now, the company has grown to be one of the largest in Bristol, located at One College Square in the regenerated Canon's Marsh area.{{cite web |url=https://plus.google.com/+HargreavesLansdownBristol/about | title=Map & Reviews of Hargreaves Lansdown, Bristol|access-date=15 March 2015}}

The company was first listed on the London Stock Exchange in May 2007, with the company's two founders then holding combined stakes equivalent to 80% in the business.{{Cite news | work=BBC News| title=Asset manager 'plans £600m float' | url=http://news.bbc.co.uk/1/hi/business/6284715.stm | date=27 January 2007 }} In April 2009, Lansdown sold a stake of 4.7% for a sum of £47.2{{nbsp}}million to put towards the cost of building Bristol City F.C.'s new stadium, reducing his stake to 22.9%.{{Cite news|url=http://business.timesonline.co.uk/tol/business/industry_sectors/leisure/article6115739.ece|archive-url=https://web.archive.org/web/20090511071553/http://business.timesonline.co.uk/tol/business/industry_sectors/leisure/article6115739.ece|url-status=dead|archive-date=11 May 2009|title=Share sale puts £47m in the back of Bristol City's net|work=The Times |location=UK |date=16 April 2009|access-date=16 April 2009 | first=Marcus | last=Leroux}}

The company became a constituent of the FTSE 100 Index in March 2011.{{cite news |last1=Salih |first1=Chris |title=Hargreaves "dazed" by FTSE 100 inclusion |url=https://www.moneymarketing.co.uk/news/hargreaves-dazed-by-ftse-100-inclusion/ |work=Money Marketing |date=10 March 2011 |language=en}} It was briefly relegated from the index between November 2023 and May 2024,{{cite news |last1=Ribbeck |first1=Michael |title=Hargreaves Lansdown wins back place in FTSE 100 |url=https://www.thebusinessdesk.com/south-west/news/13811-hargreaves-lansdown-wins-back-place-in-ftse-100 |work=South West |date=29 May 2024 |language=en}} before leaving the index upon delisting in March 2025.{{cite news |title=Babcock to replace Hargreaves Lansdown in the FTSE 100 as defence focus intensifies |url=https://www.investmentweek.co.uk/news/4411128/babcock-replace-hargreaves-lansdown-ftse-100-defence-focus-intensifies |work=Investment Week |date=20 March 2025 |language=en}}

In October 2022, the company's chief executive Chris Hill departed from the business.{{Cite web |last=Mitra |first=Sinchita |date=17 October 2022 |title=UK's Hargreaves Lansdown CEO Hill to step down |url=https://www.reuters.com/business/uks-hargreaves-lansdown-ceo-hill-step-down-2022-10-17/ |website=Reuters}} In December 2022, Dan Olley was appointed as the company's chief executive.{{Cite web |last=Aripaka |first=Pushkala |date=8 December 2022 |title=UK's Hargreaves Lansdown names digital industry veteran Dan Olley as CEO |url=https://www.reuters.com/business/finance/uks-hargreaves-lansdown-names-digital-industry-veteran-dan-olley-ceo-2022-12-08/ |website=Reuters}} Upon appointment, Olley ceased his role as a non-executive director on the company's board, which he had been since 2019.

In July 2023, the chair, Deanna Oppenheimer, stepped down following criticism from the company’s co-founder Peter Hargreaves over rising costs and a falling share price.{{Cite news |last=Dunkley |first=Emma |date=2023-07-17 |title=Hargreaves Lansdown chair to quit after criticism from co-founder |work=Financial Times |url=https://www.ft.com/content/0be8aef8-c4a9-4428-80af-0c8739e1d062 |access-date=2023-08-04}}

In 2019, Hargreaves Lansdown suffered reputational damage when trading was suspended in Woodford Investment Management's Woodford Equity Income Fund (WEIF), which Hargreaves Lansdown had been promoting through its Wealth 50 list despite concerns about the fund's investment strategy and underperformance.{{cite news |date=4 June 2019 |title=Top stockpicker Neil Woodford suspends flagship fund |url=https://www.bbc.co.uk/news/business-48506032 |access-date=9 June 2019 |work=BBC News}}{{cite news |last=Goodley |first=Simon |date=22 September 2019 |title=Hargreaves Lansdown founder attacks Neil Woodford over frozen fund |url=https://www.theguardian.com/business/2019/sep/22/hargreaves-lansdown-boss-attacks-neil-woodford-over-frozen-fund |access-date=6 October 2019 |newspaper=The Guardian}} In October 2019, retired founder Peter Hargreaves, still the owner of 32% of Hargreaves Lansdown, was reported to say:

{{Quote|It’s annoyed the hell out of me that it would appear he [Neil Woodford] has not been truthful with Hargreaves Lansdown. But it’s also annoyed me that they [Hargreaves Lansdown] let it go on so long ... The clients have been stuffed in this horrible Woodford fund.{{cite news |url=https://www.theguardian.com/business/2019/oct/04/hargreaves-lansdown-agm-neil-woodford-fund-shares |title=Hargreaves Lansdown set for further grief over Woodford debacle |last=Farrell |first=Sean |newspaper=The Observer |date=5 October 2019 |access-date=6 October 2019}}}}

Of some 300,000 people who had invested in the WEIF, 130,000 invested through Hargreaves Lansdown.{{cite news |last1=Kollewe |first1=Julia |date=17 November 2024 |title=More than 5,000 Woodford investors now suing Hargreaves Lansdown |url=https://www.theguardian.com/business/2024/nov/17/leap-number-investors-suing-hargreaves-lansdown-neil-woodford |access-date=18 November 2024 |work=Guardian}} In October 2022, claims firm RGL filed a High Court claim on behalf of an initial 3,200 investors against Hargreaves Lansdown.{{cite news |date=16 October 2022 |title=Hargreaves Lansdown hit by lawsuit on behalf of Woodford fund investors |url=https://www.theguardian.com/business/2022/oct/16/hargreaves-lansdown-hit-by-lawsuit-on-behalf-of-woodford-fund-investors |access-date=18 November 2024 |work=Guardian}} By November 2024, RGL said the number of people suing Hargreaves Lansdown had almost doubled in two years, to over 5,000, and could reach 10,000 by March 2025. Hargreaves Lansdown had rejected the first set of RGL claims in 2022 "for lack of a substantive basis of claim".

In August 2024, the company's board agreed to an acquisition by CVC Capital Partners, Nordic Capital and the Abu Dhabi Investment Authority in a deal that valued the business at £5.4 billion.{{Cite web |last=Martin |first=Ben |date=2024-08-09 |title=Hargreaves Lansdown agrees £5.4 billion takeover |url=https://www.thetimes.com/business-money/companies/article/hargreaves-lansdown-agrees-54-billion-takeover-qcbn5dvbh |access-date=2024-08-09 |website=The Times}} As part of the deal, shares would be valued at £11.40. The company will delist from the London Stock Exchange upon completion of the deal. The deal was backed by founders Peter Hargreaves and Stephen Lansdown. Hargreaves announced he would sell half of his 20 per cent shareholding, rolling over the rest into the future private company. Lansdown intended to sell his full 6 per cent shareholding. In October 2024, 87 per cent of the company's shareholders voted in favour of the deal.{{cite news |last1=Maddock-Jones |first1=Eve |title=Hargreaves Lansdown shareholders approve £5.4bn takeover despite some pushback |url=https://www.investmentweek.co.uk/news/4369789/hargreaves-lansdown-shareholders-approve-gbp-4bn-takeover-despite-pushback |access-date=18 November 2024 |work=Investment Week |date=15 October 2024}} The court approved the transaction on 19 March 2025, so allowing it to proceed to completion.{{cite news|url=https://www.solicitorsjournal.com/sjarticle/hargreaves-lansdown-plcs-scheme-of-arrangement-sanctioned|title=Hargreaves Lansdown Plc's scheme of arrangement sanctioned|date=19 March 2025|newspaper=Solicitors' Jornal|access-date=21 March 2025}}

In April 2025, Peter Hargreaves nominated himself as a non-executive board member.{{Cite web |last=Powell |first=Emma |date=2025-04-21 |title=Hargreaves Lansdown co-founder to rejoin the board after takeover |url=https://www.thetimes.com/business-money/companies/article/hargreaves-lansdown-co-founder-to-rejoin-the-board-after-takeover-8lv8mj63v |access-date=2025-04-22 |website=www.thetimes.com |language=en}} He retains a 14 per cent shareholding in company, which gives him the ability to nominate a director to the board.

The HL platform enables investors to hold different types of investment together in one place with one valuation and dealing service. Available products include ISA, SIPP, and a Fund & Share dealing account. The company also operates multi-manager unit trusts each of which in turn own a share in a number of underlying funds, as well as its own internally managed equity funds under the HL Select brand.{{cite web|url=http://www.hl.co.uk/funds/multi-manager-funds|title=HL Multi-Manager funds - Managed by our team of experts|work=Hargreaves Lansdown|access-date=15 March 2015}} The group also provides financial advisory, stockbroking and annuity broking services to private investors and advice to companies on group pension schemes. The company also offers a currency service, enabling investors to access exchange rates and send money abroad.{{cite web|url=http://www.hl.co.uk/about-us/hl-today|title=HL today|work=Hargreaves Lansdown|access-date=15 March 2015}}

Hargreaves Lansdown is UK's largest direct-to-investor investment platform. In August 2024 it had almost 1.9{{Nbsp}}million customers and oversaw assets worth £155{{Nbsp}}billion.

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Category:Companies based in Bristol

Category:Financial services companies of the United Kingdom

Category:Financial services companies established in 1981

Category:Companies listed on the London Stock Exchange

Category:Investment management companies of the United Kingdom

Category:2007 initial public offerings

Category:Online brokerages

Category:Announced mergers and acquisitions