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Hargreaves Lansdown reports 34% jump in Isa sales

New Isa contributions on Hargreaves Lansdown’s Vantage fund platform jumped 34 per cent in the year to April 5, 2011, compared with the previous year.

The group’s interim management statement, announced this morning, shows gross Isa sales hit £1.089 billion in the full tax year, up from £812m in the last tax year.



Meanwhile the value of Hargreaves Lansdown’s total assets under administration rose 6 per cent from £22.3 billion as at December 31, 2010, to £23.6 billion as at March 31, 2011.

The value of assets held in Hargreaves Lansdown’s portfolio management service and range of multi‐manager funds, increased by 5 per cent from £2.1 billion at December 31, 2010, to £2.2 billion at March 31, 2011.

Hargreaves Lansdown chief executive Ian Gorham notes in terms of net new assets, the third quarter of the firm’s accounting year was a record for the firm at £1.16 billion, up from £1.01 billion taken in the same period last year, which was the previous record.

Gorham also said that the group expects to offer the new junior Isa from November.

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Karen Playfair, Senior Marketing Consultant A few months ago my brother casually dropped into conversation that he hoped it was ok that he’d put me down as the guardian of his three daughters in his will if something happened to both him and his wife. I was pleased that he’d thought about his will and guardianship […]

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Comments

There are 3 comments at the moment, we would love to hear your opinion too.

  1. \Nice to see good news for a change

  2. Execution Only and the great HL Mystery? 19th April 2011 at 9:21 am

    Am I a lone voice here or does anyone else find it difficult to understand how HL conducted “execution only” SIPP transfer business into their HL Vantage SIPP when the FSA has made it quite clear that they will not accept “execution only” pension anything and especially so when it involves a SIPP business where the regulators are most concerned! Or is all this just a con by compliance groups in order to justify their fees and where there is no concern about execution only business – please let me know?

  3. Won’t some of this increase be down to the increase in the ISA limit from £7,200 (2009/10) to £10,200 (2010/11) for the under 50s?

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