The Bristol-based company said profit was down 5% for the year to £199m but it was nonetheless able to raise its dividend 3% to 33p per share.
Assets under administration were up 18% to the highest ever level of £55.2bn at the year end, while total number of active clients climbed 84,000 to 736,000.
Net revenue was up 1% to £294m from £291m the year before with net new business down 5% to £6.1bn.
The company noted that its ‘asset gathering abilities’ have meant that despite periods of low investor confidence has seen ‘strong net new business flows underpinned by impressive numbers of net new clients.’
Hargreaves also pointed to the acquisition of up to 7000 clients and £370m of assets from J. P. Morgan Asset Management and the launch of its new multi-manager funds as highlights from the past year.
“We are delighted with another year of great growth for Hargreaves Lansdown, against a backdrop of stock market angst and low investor confidence,” said chief executive Ian Gorham. “The new freedoms have put pensions back on the public’s radar and helped us to a further 13% growth in clients and 18% in assets during the year; assets have now passed £55 billion and client numbers are now approaching 750,000. Hargreaves Lansdown remains the clear market leader in personal investing in the UK, and we thank all our clients for their continued support,” he added.
Chairman Michael Evans added that coming year will be ‘challenging’ but he believes the firm is well set to return to its growth trajectory and ‘thrive in its chosen markets’.
