Nutmeg vs Hargreaves Lansdown: how do they compare?

7 min Read Published: 24 Mar 2022

Nutmeg vs Hargreaves Lansdown In this article, we look at investment platforms Nutmeg and Hargreaves Lansdown*, comparing the products and services they offer, the cost and how well they are reviewed by customers.

We also show you the reader offer that gives you 12 months' free management fees with Nutmeg (terms and conditions apply).

Nutmeg vs Hargreaves Lansdown - which is better

Nutmeg Hargreaves Lansdown 
Services Fixed Allocation portfolios

Fully Managed portfolios

Socially Responsible portfolios

Smart Alpha portfolios

HL Select funds

Wealth Shortlist

Master Portfolios

HL Portfolio+

Foreign currency exchange

Spread betting and CFDs

Products ISA, GIA (General Investment Account), Lifetime ISA, Junior ISA and SIPP Active Savings

Cash ISA

Fund and share account

ISA, GIA (General Investment Account), Lifetime ISA, Junior ISA, SIPP, Junior SIPP

Minimum investment £500 (£100 for JISA and LISA) £1 for a fund and share account

£100 for an ISA or SIPP (or a regular £25 per month)

£1,000 for HL Portfolio+

Fees On the value of your portfolio up to £100,000 - 0.75%

Over £100,000 - 0.35%

Additional underlying fund charges

On the value of your portfolio between £0-£250,000 there is a 0.45% annual charge.

Between £250,000-£1m - 0.25% per annum charge

Between £1m-£2m - 0.10% per annum charge

Over £2m - 0% per annum charge

Additional underlying fund charges

No charges for holding shares

Dealing charges (based on deals completed in previous month):

0-9 deals - £11.95

10-19 deals - £8.95

20+ deals - £5.95

Customer reviews (Trustpilot) 4.3/5.0 4.2/5.0
Money to the Masses offer No management fees for 12 months (terms and conditions apply) n/a

Nutmeg vs Hargreaves Lansdown - services

Nutmeg has 10 risk-rated portfolios in its main Fully Managed range, as well as 10 socially responsible portfolios. However, it also has a Fixed Allocation range, which has minimal intervention, with the assets only reviewed once a year, as well as a Smart Alpha range, which has a more active approach, supported by J.P. Morgan Asset Management.

Hargreaves Lansdown, meanwhile, has 6 portfolios in its HL Portfolio+ range, but also has a wide range of other services, including its own range of multi-asset funds, fund recommendations, model portfolios and a raft of tools and independent research. It also has a foreign exchange offering, as well as having spread betting and CFDs on offer for more sophisticated investors.

Nutmeg vs Hargreaves Lansdown - products

In terms of the types of accounts available, both Nutmeg and Hargreaves Lansdown have ISAs, GIAs, Lifetime ISAs, Junior ISAs and SIPPs. In addition, Hargreaves Lansdown has a Junior SIPP, as well as savings options and a fund and share account.

If you are specifically interested in Junior SIPPs, there is more information in our article "What is a Junior SIPP - Children's pensions explained".

Nutmeg vs Hargreaves Lansdown - minimum investment

Nutmeg has a minimum investment requirement of £500, although this is reduced to £100 for its Lifetime ISA and Junior ISA. For Hargreaves Lansdown, its minimum investment starts at £1 for its fund and share account, but rises to £100 (or £25 per month) for its ISA and SIPP. If you want to invest in the HL Portfolio+ range, which is the nearest equivalent to the Nutmeg Fully Managed range, you will need to start with at least £1,000.

Nutmeg vs Hargreaves Lansdown - fees

If you have a portfolio up to £100,000, Hargreaves Lansdown is the cheaper option in terms of platform charges. However, once you go over £100,000 and before you go over £250,000, Nutmeg works out to be more cost-effective. Hargreaves Lansdown also offers investors the option to buy and sell shares, charging £11.95 per trade, although this cost falls if you make numerous trades per month.

Nutmeg vs Hargreaves Lansdown - customer review

According to independent customer review site Trustpilot, both Nutmeg and Hargreaves Lansdown are viewed highly by their users, with both scoring more than 4 out of 5 stars. Overall, 74% of respondents characterised Nutmeg as "excellent", while 55% of reviewers thought the same about Hargreaves Lansdown. The positive reviews centred on customer service for both platforms, with the negative reviews mainly being related to issues with individual accounts or difficulties with resolving specific problems.

Summary: Nutmeg vs Hargreaves Lansdown

Nutmeg and Hargreaves Lansdown have quite different propositions, with Nutmeg a robo-adviser offering risk-rated funds and Hargreaves Lansdown a more traditional investment platform. Choosing between them, therefore, is largely down to what you are looking to do with your investments. If you are simply looking to achieve a balanced portfolio of passive investments that matches your appetite for risk, both Nutmeg and Hargreaves Lansdown have options that may suit your needs. However, if you want to be able to create your own portfolio, trade in shares or incorporate spread betting or CFDs, Hargreaves Lansdown has those options available to you.

For more details on both platforms, read our Nutmeg review and Hargreaves Lansdown review.

 

If a link has an * beside it this means that it is an affiliated link. If you go via the link Money to the Masses may receive a small fee which helps keep Money to the Masses free to use. But as you can clearly see this has in no way influenced this independent and balanced review of the product. The following link can be used if you do not wish to help Money to the Masses - Hargreaves Lansdown