This morning’s announcement to the stock market came alongside the firm’s Q2 trading update, which reported net new business of £3.3bn over the four-month period to 30 April.
The March launch of Woodford Funds’ Income Focus product, as well as the launch of the group’s own Select UK Income Shares fund – also in March, the recent increase to the Isa allowance and the launch of the Lifetime Isa have powered the inflows, according to the group.
The recent inflows bring total assets under administration (AUA) to £77bn, an increase of 10%.
Year-to-date (YTD) net revenues increased by 17%, to £315.7m while YTD net new inflows reached £5.6bn, attributed in part to improving levels of investor sentiment.
Chris Hill, chief executive, said the “strong” net new business figure could be attributed to the diversified nature of the business.
He said: “The breadth of our product offering combined with the provision of high-quality services tailored to help meet the needs of our clients has allowed us to deliver significant growth over a period of improving investor confidence.
“These attributes position us well for the structural growth opportunity in the UK savings and investments market.”
HL attracted 56,000 new clients over the quarter, bringing active client numbers to 932,000.
Further, it said improved client service through its smartphone app and greater digital marketing efforts have contributed to the group’s flows.
Evans joined the Hargreaves Lansdown board as a non-executive director in September 2006 and became chairman in December 2009.
Hill said: “Under Mike’s guidance, the group has become a successful FTSE 100 business combining strong client focus with high service standards.
“I’m grateful for Mike’s insight and contribution to this journey and wish him well going forward.”
Evans added that chairing the group over the past eight years had been “a real privilege”.
He said: “I have seen the group grow significantly and establish itself as the UK’s leading retail savings and investments platform.
“I believe the Group is exceptionally well-positioned for the next phase of growth under the leadership of Chris Hill and I am immensely grateful to my fellow board members, the founders and all of my colleagues at Hargreaves Lansdown for their support during my tenure as chairman.”
