Hargreaves Lansdown assets jump 11% to £26bn

Hargreaves Lansdown has seen its assets under administration jump 11 per cent in the first quarter of 2012 to stand at £26bn.

The figure is up on the £23.4bn recorded at December 31, 2011. Assets on the group’s Vantage platform also rose 11 per cent from £21.9bn to £24.4bn,

Hargreaves Lansdown says the increase in assets under administration can be attributed to £974m of new inflows and a £1.6bn boost from market movements as the UK market rose by 5.1 per cent in the first quarter of this year.

The firm has taken in just over £1bn of Isa sales in for the last tax year, having recorded a similar amount for the year ended April 5, 2011.

The number of active Vantage clients rose by 17,500 to 413,500 in the last three months to March 31, 2012.

Total assets within the group’s portfolio management service and multi-manager funds also increased by 9 per cent from £2.2bn as at December 31, 2011 to £2.4bn as at March 31, 2012.

Hargreaves Lansdown chief executive Ian Gorham says: “Despite these conditions the company has fared exceedingly well.  During the period leading up to the end of the calendar year we indicated the potential for a slowdown of asset gathering given economic conditions.  However, our historically busy time leading up to the end of the tax year has been excellent, with net new business in February and March 2012 matching last year’s record equivalent months.  As a result we are particularly pleased to report a record total of assets under administration and management of £26 billion at March 31, 2012.  We have also experienced an encouraging start to April.”


Towry looks at closing two offices

Towry is considering closing its Norwich office and moving its East Anglia operations to Cambridge as well as closing its Londonderry office. The firm told employees this week that it is undertaking a consultation period on operations at its Norwich branch. There are 12 staff at the office, including four advisers and eight non-advisory staff. […]

Axa appoints new Bluefin Personal Consulting chief

Axa has appointed Graham Harvey as managing director of Bluefin Personal Consulting after selling its corporate consulting arm to Capita. Harvey’s is one of a number of new appointments to the management team with Philip Anderson being appointed as finance and risk director. Interim managing director Simon Hellier becomes deputy managing director. Prior to Bluefin, […]


News and expert analysis straight to your inbox

Sign up


There is one comment at the moment, we would love to hear your opinion too.

  1. Paul S, Cardiff 19th April 2012 at 9:56 am

    As an HL client for much of my investments, I would say they are doing this because they have been able to grow the business while maintaining excellent customer servcie. I am frustrated by virtually very other financial services company I deal with. I can’t rememebr the number of formal complaints (re banking, cash ISAs etc) I’ve made against Santander, all decided in my favour, with another looking likely. Ditto the poor trading platforms and/or admin of many other execution only platforms I tried in the past.

    I’m sure many MM readers will say ‘that’s what happens when you don’t pay for advice’ but my experience there has been almost as chequered. (and who needs advice for simple banking and investments like cash ISAs, as long as the overall strategy is sound?).

    I do take advice on complex pensions matters and similar, and am happy to pay for that.

Leave a comment


Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm

Email: customerservices@moneymarketing.com