Hargreaves Lansdown has recorded a "satisfactory" 13% increase in operating revenue over the turbulent three months to 30 September.
In its interim management statement released this afternoon, the firm revealed its total operating revenue climbed to £32m in the period, with Vantage platform revenue jumping 22% to £20.1m.
The group saw its total assets under administration decrease just 7% during the quarter, despite the 13% drop for the FTSE All-Share.
It says investor transfers onto its Vantage platform allowed the firm to continue to post “reasonable inflows” as the investment industry dried-up.
"During a period of turmoil not previously experienced during most people's working lives we nevertheless have managed to continue trading satisfactorily,” chief executive Peter Hargreaves says.
"We have not been immune from the decline in the value of client investments but we have been vigilant to ensure we have not been exposed to investments that have been directly affected by defaults.”
Hargreaves says the firm has also benefited from a cautious use of staff.
“By sensible use of temporary contracts during our busy spring period we have moved into the quieter trading period with appropriate manning levels," he says.
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