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The amount of money invested through do-it-yourself platforms has almost quadrupled in a decade. Companies through which investors can trade online or on the phone without the services of an adviser held £317 billion in March, up from £80 billion in the same month in 2012, according to the analyst Platforum.
The competition between DIY investment platforms is fierce as they seek to wrest dominance from Hargreaves Lansdown, Britain’s largest investment company, which alone manages £123.8 billion — about 42 per cent of the market — and has 1.7 million customers. On Friday its annual accounts showed that profits were down 26 per cent in the 12 months to the end of June compared with the same period a year earlier.
DIY investment services have
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