Hargreaves Lansdown saw net inflows rise by 47% in the three months to the end of September, but assets under administration declined as global markets fell.
In its trading update for the period from 1 July to 13 October, the firm said net new inflows were £1.4bn, up 47% year-on-year. This was helped by £14.8m of new business that followed the acquisition from J.P.Morgan Asset Management, which was announced in June, as well as the addition of 496 new clients over the period. Net revenue was up 11%, from £70.8m over the same period a year ago to £78.5m. The firm said these results mark "record net new business and net new active client numbers for the first quarter of any financial year". Hargreaves Lansdown unveils six-strong mod...
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