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Record revenue at Hargreaves Lansdown
Sharedealing platform Hargreaves Lansdown today revealed record revenues up 20 per cent to £68.7m in the three months to 30 September.
The FTSE 250 listed firm saw its assets under administration increase by £2.2bn to 28.5 billion over the period.
The forthcoming Retail Distribution Review, which bans commission-based advice, has boosted the market dominance of Hargreaves Lansdown, which has seen its assets grow to all-time high in a soft market.
The sharedealing platform welcomed today’s results, in what it calls a “challenging” economic and market environment for retail investors.
The company’s clients rose by 10,000 to 432,000 over the three months to September.