The good ship HL If RBS is a bad financial services company, Hargreaves Lansdown (LSE: HL.L) is one of the good guys. It has performed superbly since listing in May 2007 and is up 50% this year alone. The problem is that its success is now all in the price, trading on an expensive price-to-earnings ratio of nearly 22 times earnings for June. It yields just 2.4%, although this is forecast to rise to 3.8%. With co-founder Stephen Lansdown stepping down and the Financial Services Authority stepping up its financial advice industry reforms, Hargreaves Lansdown does face some uncertainty. I suspect it will sail on regardless, but my gut instinct still says investors have missed the boat with this one.