Jefferies retains 'Buy' rating for Hargreaves Lansdown

No ‘double dipping’ impact

Cristian Angeloni
clock • 2 min read

Jefferies has restated its ‘Buy’ rating for Hargreaves Lansdown, a positive call amid a run of negative ratings on the DIY investment platform.

Jefferies analysts' forecast that the interest income earned on client cash will help fund the platform's investment programme. They noted that HL was unlikely to be one of the platforms involved in the ‘double dipping' issue highlighted by the Financial Conduct Authority last year - where platforms charged platforms fees alongside taking interest on client cash. As a result, analysts Julian Roberts, Tom Mills, Laura Gris Trillo and Fangfei Li said they did not expect any changes to HL's guidance for interest margins on client cash. Former Hargreaves Lansdown chief executive Chris ...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Companies

FTSE 100 dividend forecasts fall as 2018 peak moves further out of reach

FTSE 100 dividend forecasts fall as 2018 peak moves further out of reach

AJ Bell Dividend Dashboard

Sorin Dojan
clock 20 December 2024 • 4 min read
WealthTek boss John Dance charged with £64m fraud and money laundering

WealthTek boss John Dance charged with £64m fraud and money laundering

‘One of the most serious and largest frauds’

Jenna Brown
clock 19 December 2024 • 2 min read
Ukraine war has made City spending on defence 'essential' as opposed to 'contentious'

Ukraine war has made City spending on defence 'essential' as opposed to 'contentious'

Defence sector ‘vital to the economy’

Sorin Dojan
clock 18 December 2024 • 5 min read
Trustpilot