Hargreaves says RDR will be 'bad for entire industry'

He hopes this will benefit the group's fast-growing Vantage platform, which has added 48,000 users in the past six months, bringing its total to 330,000. Hargreaves Lansdown today reported profits increased 18% to more than £86m in the year to 30 June as net business inflows and assets under administration soared. Co-founder Hargreaves remains pessimistic about some aspects of the RDR: "The Review is likely to be bad for the entire retail investment industry," he says. "Everyone will have to tighten their belts. That said, we believe the Vantage model will not offend RDR sensibilit...