Hargreaves Lansdown reports record quarter

FUND manager Hargreaves Lansdown said it has had its best quarter ever with a flood of new clients.

Total assets under administration surged by 12.8 per cent to £17.6bn in the third quarter.

The group said it has maintained a strong cash and balance sheet position, free from debt and with a high level of surplus capital.

Chief executive Peter Hargreaves said: “We experienced our best quarter ever. The election will be the next most significant external stimulus to our business. The result and the victor's response to the deficit will have material effects on our economy, sterling and the stock market."