Hargreaves Lansdown gathered a record £1.16bn of net new assets during a quarter which saw it enter the FTSE 100 for the first time.
Assets rose 15% on the same period last year, during what is traditionally the wealth manager's busiest period. Total assets under administration grew by £1.3bn (6%) from £22.3bn to £23.6bn over the quarter to 31 March 2011, powered by inflows to the group's direct to consumer Vantage platform. The value of assets held on Vantage also rose by 6% from £20.9bn to £22.1bn over the period. This can be attributed to £1.1bn net new business inflows and a £0.1bn positive impact of the market and other growth factors. Hargreaves' operating revenue for the third quarter (to 31 March 2011) w...
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