5
th May 2021
12:01 am
Hargreaves Lansdown (HL) has welcomed thousands of young DIY investors to its platform in recent months, but the firm has warned these inexperienced customers could be vulnerable in some cases.
The firm’s head of conduct and client service Rob Branch made the observation at the Association of British Insurer’s conference on financial wellbeing yesterday.
He said around 200,000 new accounts were opened on the Hargreaves Lansdown platform over the past 12 months and other rival platforms had witnessed similar trends in the UK.
HL reports it has seen the average age of new clients decrease markedly since 2012 yet Branch warned some might experience difficulty.