Nick Train, a long-term backer of Hargreaves Lansdown, has said the platform's assets could hit £240bn by 2020 - a figure which would mean adding £200bn in AUA over the next six years.
Hargreaves is now Train's top holding in his £750m Lindsell Train UK Equity fund, following a huge jump in price - shares are up 105% over the past 12 months - which has left some investors cautious on its future prospects. On Wednesday the company's shares suffered a set-back, dropping 4% after it revealed its new pricing structure, but the upward trend remains firmly in place. That is despite a major shift in its business model, caused by the Retail Distribution Review (RDR) and the move to ban rebates. As of 1 March Hargreaves will charge users an ongoing platform charge, as well a...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
