Wednesday, August 15, 2018

Hargreaves Lansdown brings in £3.3bn new business in first months of 2018

Bristol-based financial services firm Hargreaves Lansdown has reported bringing in £3.3bn in new business in the first few months of 2018, as it issued a trading update to investors.

For the four months from the start of the year up to 30 April 2018, the company also reported new net business of £6.6bn for the year.

Assets under administration stood at £88.8bn as of 30 April, as it brought in 60,000 new clients and made year-to-year net revenue of £366.6m – up 16 per cent.

Read more: Strong results from Hargreaves Lansdown fail to beat a FTSE slump

"Hargreaves Lansdown had another good tax year end, delivering strong net new business of £3.3bn over the busiest time of our year and welcoming another 60,000 net new clients," Chris Hill, the company's chief executive.

"We have continued to invest in our helpdesk, operations and technology teams and Im pleased that the consequence of this is that we are able to support stronger volumes of client activity whilst maintaining our leading reputation for client service.

"We believe continuing to make investments in client service and technology is crucial to the ongoing success of Hargreaves Lansdown."

Shares were up slightly from yesterday's close this morning, trading 0.64 per cent higher.

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