What’s new?
Hargreaves Lansdown has cut the minimum investment amount on its Vantage Service to £25 per month – down from £50 – and lowered its minimum lump sum amount to £100 from £500 to encourage first time investors.

They say…
Hargreaves Lansdown head of financial planning Danny Cox says: “The most important part of a savings plan is to get it off the ground, even if the initial amount seems small. Hargreaves Lansdown’s Vantage Service makes it easier for ordinary investors to build and to manage their wealth.”

Good news?
The Vantage service incorporates Isa, Sipp and fund and share accounts. The news that investors can access the group’s range of funds, shares and bonds at a lower entry point is therefore welcome, opening up the investment options for smaller investors.

Any caveats?
Investors still need to be careful on charges. For the majority of open-ended funds, investors are charged based on a percentage of their investment, so there is no disadvantage for small investors. However, share deals can attract a one-off, fixed dealing fee, which will be a greater percentage of a smaller investment and could eat into your returns.

Links

Hargreaves Lansdown NISA

Investment Helpdesk – 0117 900 9000