Hargreaves Lansdown Services Restored Following Technical Disruption
Hargreaves Lansdown, the United Kingdom's largest DIY investment platform, has confirmed that clients can now access their accounts after a technical problem on Friday brought operations to a standstill. The platform reported in a statement on Friday evening that it was "no longer seeing" the earlier technical issues, with customers once more able to make transactions.
Platform Apologizes for Inconvenience
The statement from Hargreaves Lansdown said: "We're pleased to share that we are no longer seeing the technical issues which were affecting some parts of our website and app. Clients can now transact on their accounts as normal. All clients' assets and data have remained secure throughout and there has been no evidence of any cyber incident, data breach or system compromise. We're sorry for the inconvenience we know this will have caused and thank you for your patience."
Despite finding and solving the problem, which prevented investors from logging on to both the website and mobile app, customers were displeased with Hargreaves Lansdown's response to the issue.
Services Disrupted During Severe Market Volatility
Services, including pensions, savings and investments, went down on Thursday evening, leaving people unable to access their funds during a period of severe market volatility. This volatility was caused by the Middle East conflict, which led to soaring oil prices and wider market reactions to the bombing of energy infrastructures across Iran, Qatar and the UAE earlier in the week.
The timing was particularly critical as the Bank of England also chose to hold interest rates at 3.75 percent in a rare unanimous decision on Thursday. This raised concerns about the likelihood of rate rises later this year, with the FTSE tumbling to its lowest point this month. Additionally, many investors are in the process of getting their financial affairs in order as the end of the tax year approaches.
Customer Frustration and Threats to Change Providers
Hargreaves Lansdown customers expressed anger at the situation, replying to posts on X from the firm. Some customers accused the company of a lack of diligence, while others threatened to move providers as soon as the problem was solved. One customer called for the financial watchdog to investigate the incident, hailing it unacceptable and questioning if they will be compensated. Others confirmed they had lost money by being unable to trade during the volatile session.
This is the latest technical problem for financial firms and providers. Earlier this month, Lloyds experienced a significant technical glitch that caused customers to see other users' transactions. MPs on the Treasury Select Committee wrote to the chief executive officer of Lloyds, Charlie Nunn, asking about compensation for those affected.
Historical Context and Competitive Pressures
Last September, a glitch on the Hargreaves Lansdown website also caused panic for thousands of investors after it briefly showed incorrect account balances. The latest glitch is a further blow to the firm, which is working to see off wider competitors who are luring customers with lower fees and digital offerings.
This competitive pressure led Hargreaves Lansdown, which holds more than £170 billion in assets, to overhaul its fees. The company announced it will cut its annual account and share dealing fees but add a charge for fund trading in its first overhaul of pricing in more than a decade. This move will cost the company tens of millions of pounds.
The changes took effect from this month, meaning eight in ten customers pay either lower fees or the same amount, according to the firm. Hargreaves Lansdown was bought by a consortium of private equity firms, including CVC Capital Partners, Nordic Capital and Abu Dhabi's Platinum Ivy, in a deal that was completed in March 2025.
