Both are FCA-regulated and FSCS-protected. The real difference is fees, account types and how each platform feels to use. Verified against each provider’s published charges.
Fees verified July 2026. Capital at risk. Information, not financial advice.
Investors who want funds and shares on one platform without paying Hargreaves Lansdown prices.
Investors who want the fullest service, research and support and will pay a premium for it.
Tick what you need. No account, no email. The answer is on this page.
Tick what you need above and we'll tell you which of the two covers it.
Account availability verified July 2026. Capital at risk. Information, not financial advice.
Reviewers repeatedly mention that the platform is easy to use and communication is clear. AJ Bell has been Which? Recommended for eight years running.
Occasional gripes about transfer times and the dealing charge compared with app-only rivals.
Read AJ Bell reviews on TrustpilotService quality is the recurring theme: phone answered quickly, knowledgeable staff, smooth transfers.
Price. Even after the cuts, reviewers and commentators note cheaper alternatives for the same investments.
Read Hargreaves Lansdown reviews on Trustpilot| Fee | AJ Bell | Hargreaves Lansdown |
|---|---|---|
| Platform fee | 0.25% on funds up to £250k (tiered lower above); shares capped at £3.50/month in an ISA and £10/month in a SIPP | Funds: 0.35% up to £250k, 0.25% £250k-£1m, 0.10% £1m-£2m, nothing above £2m. Shares, ETFs and investment trusts: 0.35%, capped at £150 a year in the ISA, SIPP and Fund & Share account |
| Share dealing | £5.00 per trade | £6.95 per trade (cut from £11.95 in March 2026) |
| Fund dealing | £1.50 per trade | £1.95 per trade (free via regular investing) |
| FX fee | 0.75% on the first £10k, 0.50% on the next £10k, 0.25% above £20k | 1% on the first £5k, tiered lower above |
| Stocks & Shares ISA | Platform fee applies, no separate ISA charge | Platform fee applies |
| SIPP | Platform fee applies, shares capped at £10/month (£120/year); no withdrawal fee in drawdown | Platform fee applies |
| Withdrawals | Free | Free |
| Minimum to start | £25/month regular investing; no stated minimum lump sum | £25/month or £100 lump sum |
A 0.25% yearly fee gap sounds small. On £50,000 over 20 years it is about £5,900 (illustrative). Add your ISA and pension balances to Delphina yourself and see what your charges cost by retirement and whether you're on track.
See what my fees costIllustrative: £50,000, 5% a year growth before charges, 0.25% vs 0.50% a year in charges, no further contributions. Not a recommendation of AJ Bell or Hargreaves Lansdown. Delphina is guidance, not financial advice.
AJ Bell sits in the sweet spot between cheap app-only brokers and expensive full-service platforms. You get funds, shares, ETFs, a well-regarded SIPP and a Lifetime ISA, with caps that keep costs sensible for share investors.
It suits people who want one account for everything, particularly ETF investors who benefit from the £3.50 monthly cap in an ISA. Fund-heavy portfolios above six figures should compare the 0.25% fee against a flat-fee platform like Interactive Investor.
Hargreaves Lansdown is the UK's largest DIY investment platform and leans into service: fast phone support, deep research and every account type you might need. The March 2026 fee cuts made it meaningfully cheaper, with fund fees down to 0.35% and share dealing at £6.95.
It is still rarely the cheapest option. You are paying for service and breadth, so the honest question is whether you will use them. If not, AJ Bell offers similar range for less.
AJ Bell charges 0.25% a year on funds up to £250,000, 0.10% from £250,000 to £500,000 and nothing above £500,000. HL charges 0.35% up to £250,000, 0.25% to £1m, 0.10% from £1m to £2m and nothing above £2m.
For shares, ETFs and investment trusts, the caps decide most of the cost. AJ Bell caps the fee at £3.50 a month (£42 a year) in the ISA and £10 a month (£120 a year) in the SIPP. HL charges 0.35%, capped at £150 a year in the ISA, the SIPP and the Fund & Share account. On £50,000 in shares and ETFs in an ISA, that is £42 at AJ Bell and £150 at HL.
HL replaced its old £45 ISA cap with the £150 cap on 1 March 2026, so any comparison quoting £45 is out of date.
Share dealing is £5 at AJ Bell (£3.50 if you made 10 or more deals the previous month) and £6.95 online at HL. Fund deals are £1.50 at AJ Bell and £1.95 online at HL. Regular investing is free on both.
Both offer a Stocks & Shares ISA, Lifetime ISA, Junior ISA, SIPP and general investment account. Leaving costs nothing at either: AJ Bell has no exit or withdrawal fees, and HL charges nothing for transfers out.
Here is the three-way comparison. These are annual platform fees only, before fund costs and dealing:
It depends on what you hold and how often you trade. AJ Bell's platform fee is 0.25% on funds up to £250k (tiered lower above); shares capped at £3.50/month in an ISA and £10/month in a SIPP, against funds: 0.35% up to £250k, 0.25% £250k-£1m, 0.10% £1m-£2m, nothing above £2m. Shares, ETFs and investment trusts: 0.35%, capped at £150 a year in the ISA, SIPP and Fund & Share account at Hargreaves Lansdown. On dealing, AJ Bell charges £5.00 per trade for shares and £1.50 per trade for funds, while Hargreaves Lansdown charges £6.95 per trade (cut from £11.95 in March 2026) for shares and £1.95 per trade (free via regular investing) for funds. Fees verified July 2026.
AJ Bell is best for investors who want funds and shares on one platform without paying Hargreaves Lansdown prices. Hargreaves Lansdown is best for investors who want the fullest service, research and support and will pay a premium for it. Both are FCA regulated and covered by the FSCS.
On AJ Bell's ISA: Platform fee applies, no separate ISA charge. On Hargreaves Lansdown's ISA: Platform fee applies. Neither offers a flexible ISA, so anything you withdraw still counts against your annual allowance. Minimums are £25/month regular investing; no stated minimum lump sum at AJ Bell and £25/month or £100 lump sum at Hargreaves Lansdown.
AJ Bell offers a SIPP (platform fee applies, shares capped at £10/month (£120/year); no withdrawal fee in drawdown). Hargreaves Lansdown offers a SIPP (platform fee applies).
AJ Bell scores 4.9 out of 5 on Trustpilot (Excellent) from around 17,400 reviews. Hargreaves Lansdown scores 4.3 out of 5 (Excellent) from over 21,000 reviews. Occasional gripes about transfer times and the dealing charge compared with app-only rivals. Price. Even after the cuts, reviewers and commentators note cheaper alternatives for the same investments.
Yes. UK platforms accept ISA and SIPP transfers in, and you start the transfer with the receiving provider rather than the one you are leaving. AJ Bell charges free on withdrawals and Hargreaves Lansdown charges free. Transfer as cash and you are out of the market while it settles; transfer in specie and you keep your holdings but it takes longer.
AJ Bell or Hargreaves Lansdown, the account is the easy part. What decides when you can retire is how much goes in and for how long. Delphina works that out from what you already hold and what you pay in each month.
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