Hargreaves Lansdown yearly profit climbs 42%

The group’s turnover jumped 22% to £120.3m, mainly attributed to added asset incomes from its fund platform Vantage. Hargreaves also boosted its assets under administration and management despite sharp declines for the FTSE All Share over the year, labelling its 9% assets increase to £11.1bn as “nothing less than remarkable”. Vantage revenues leapt from £52.1m to £72.2m, with the asset values in its SIPP business climbing 64% to £2.3bn. Strong net inflows for its fund and share account were largely offset by the market decline, while ISA assets remained unchanged at £5bn. Hargreaves ...