Hargreaves Lansdown has reported an increase in net revenues and higher assets under administration for the first four months of the year despite slower inflows amid a "challenging ISA season" for the industry.
Total net revenues from 1 January to 30 April 2016 were up 14% to £110.1m, compared to £96.9m reported in the same period last year, with its direct-to-investor platform Vantage reporting the largest revenue increase of 15%. Assets under administration also climbed to £60.3bn, up from £58.8bn at the end of last year, with Vantage once again boosting figures - assets on the platform increased by 3% from £55.9bn to £57.4bn. The increase in assets was helped by £2.3bn net new business inflows, which was offset by a £800m negative market impact, causing overall flows to be lower than the ...
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
