Hargreaves Lansdown assets edge up to £134.8bn

The firm booked new business of £600m in first quarter

Hargreaves Lansdown office in day


Hargreaves Lansdown has reported modest growth to total assets on the investment platform during its first quarter.

The firm said it booked new business of £600m in the period to 30 September, bringing assets under administration to £134.8bn with market movements factored in.

Net new client growth was 8,000 in the period, taking the firm up to 1,812,000 active clients, with a retention rate of 91.7%.

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Revenue for the quarter was £183.8m, up 13% on the £162.9m booked in the same quarter last year.

The company’s AGM is scheduled to be held on 8 December 2023 and its interim results will be issued on 22 February 2024.

Chief executive Dan Olley commented: “We continue to see net client growth and positive net new business despite the macroeconomic backdrop and its on-going impact on investor confidence and client behaviour.

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“Clients are looking to invest more in cash than risk-based investments, from our Active Savings offer, giving easy access to a range of banking partners, to Money Market Funds and short-dated bonds. Combining this with informative and relevant content provides our clients with a wide range of solutions to meet their saving and investment needs.”

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