The 10 Things You Didn’t Know About Peter Hargreaves

Meet Peter Hargreaves, the co-founder of Hargreaves Lansdown, one of the UK’s largest financial service providers. This dynamic self-made millionaire may seem to have a straightforward tale, but there are many astounding facets to his life you may not be aware of.

1. His Humble Beginnings

Born November 5, 1946, Peter Hargreaves’ story began in Clitheroe in Lancashire, England. He had humble beginnings and was not born into wealth. In fact, his father was a baker who taught him the value of hard work, giving him his first job at the age of five delivering bread around his hometown.

Peter’s early years set the foundation for his future achievements. His tenacity, hard work, and perseverance can be attributed to the values ingrained in him by his family from a young age.

2. Accountant by Training

Peter Hargreaves is a bona fide accountant. With a fellowship from the Institute of Chartered Accountants in England and Wales, he embraced the world of numbers and managing investments early on.

Before his ascent into financial services, he worked as a computer salesman with Unisys. It was here that he acquired a blend of technology and financial knowledge, positioning him perfectly for the development of Hargreaves Lansdown.

3. Co-Founded from a Bedroom

In 1981, starting with a mere £500, Hargreaves and his business partner, Stephen Lansdown, founded Hargreaves Lansdown from a bedroom. Today, this financial services giant is worth around £7.5 billion.

Their business grew through mail-order share dealing, eventually evolving into providing financial advice and fund management. These early days laid the groundwork for what Hargreaves Lansdown has become today, a testament to their drive and vision.

4. Not a Fan of Meetings

Despite running a financial juggernaut, Peter is not a fan of meetings and reportedly avoids them when he can. He believes in efficient communication that cuts through time-consuming bureaucracy.

This ethos was practiced within Hargreaves Lansdown, where most communication happened via quick conversations rather than formalized meetings. His company’s agile response time was inspired by his efficient communication strategy.

5. Launched a Bestseller Fund

Hargreaves Lansdown launched the Wealth 50 list, one of its bestseller products. However, in 2019 it was embroiled in controversy after the suspension of one of the featured funds run by Neil Woodford.

Despite the controversy, Hargreaves stood by his creation. He acknowledged the issues and worked towards ensuring better management and regulation to prevent any future mishaps.

6. He is a Self-Made Millionaire

Peter Hargreaves is not only a successful business magnate but also a lucrative author. His first book, ‘How to Make Money from Shares’ and his second book, ‘In for a Penny’, outline his philosophy on building wealth.

Peter’s self-made success truly exemplifies the evolution from a modest upbringing to financial mastery. His story serves as an inspiration for aspiring entrepreneurs and investors.

7. Retired in 2010 but Still Active

Though Peter Hargreaves retired from the board of Hargreaves Lansdown in 2010, he remains active in the financial world. He continues to hold a significant stake in the company and lends his financial acumen to other ventures.

His focus now is on further wealth creation and helping future business tycoons create wealth through various channels and investments.

8. Brexit Advocate

Peter is a keen supporter of Brexit. He was one of the largest contributors to the Leave campaign, donating millions of pounds. Regardless of the controversial nature of this decision, Peter Hargreaves has been unwavering in his political stance.

Despite the economic uncertainties that Brexit brought, Hargreaves viewed it as a positive development that would lead to the UK regaining economic control and autonomy from the European Union.

9. Family Focused

Despite his work commitments, Peter made sure to keep his family as a priority. He has been married for over four decades to his wife Rose, and together they have two children. The family currently resides in Bristol.

Family is evidently important to Peter and his life beyond business shines a light on his dedication as a husband and father.

10. Philanthropic Endeavors

Peter Hargreaves is not only successful in business but also generous in heart. He focuses much of his efforts and wealth on charitable causes, earning him an immensely inspirational reputation.

In 2017, he donated £3.2 million towards the University of Bristol’s Veterinary School. His philanthropic efforts are focused on eradicating poverty, improving education and advocating for animal welfare.

In conclusion, Peter Hargreaves is not just a self-made millionaire and renowned businessman. He’s a family man, a philanthropist, and an inspiration to many successful entrepreneurs today.

Useful links:

Hargreaves Lansdown Official Website
Peter Hargreaves’ Philanthropic Endeavors
Peter Hargreaves’ Book – In For A Penny