Hargreaves warns low rates to keep dragging on returns


Hargreaves Lansdown has said the low interest rate environment will continue to impact its revenues for the remainder of the year, with the business also ruling out any further moves on price for now as investor confidence wanes.

The D2C platform giant, reporting its interim results, said this morning it had felt the impact of declining investor confidence, as net new clients halved to 10,000 in the first quarter of its 2015 financial year. Net new business also fell from £1.26bn a year ago to £970m, although net revenue overall rose marginally from £70.1m to £70.8m. Assets under administration rose just £100m, albeit to a record £47bn, in the face of declining stock markets. Hargreaves said the uncertain backdrop had impacted results. "Potential stock market gains are a key incentive for retail investors t...

To continue reading this article...

Join Professional Adviser

  • 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.



Already a Professional Adviser member?


More on Investment

Multi-Asset Roadshow 2024: PA is coming to a city near you!

Multi-Asset Roadshow 2024: PA is coming to a city near you!

Join us in Leeds, Warrington, Birmingham, Bristol and London

Professional Adviser
clock 07 December 2023 • 1 min read
The firm was co-founded by MP Jacob Rees-Mogg (pictured).

Somerset Capital Management to close after SJP redemptions

Two funds to be transferred after firm shuts

Elliot Gulliver-Needham
clock 07 December 2023 • 1 min read
The report also revealed that just six holdings of a total ten hold any value, with the remaining four companies representing no value in the fund.

Remaining Woodford fund assets shrink 40% since last distribution

Just six holdings of a total ten hold any value

James Baxter-Derrington
clock 07 December 2023 • 3 min read