Anna Bowes replies:
Hargreaves Lansdown’s financial situation has absolutely no link to the situation in the banking sector – HL is an independent financial adviser (IFA). 

Within the Vantage Service, the underlying investments remain invested into the underlying investment companies and, even then, are ringfenced should there be problems with these underlying companies. So your money is secure, although not guaranteed. 

In the unlikely event that HL were to become insolvent, you would still be able to access the money invested in the underlying funds by simply writing to the companies and asking for the money to be encashed.  However, there would be no reason to do this unless you need the money, as encashing your ISAs would mean that you lose the allowances forever.

HL has a section on its website entitled ‘How safe is your investment?’, which may help put your mind at ease.