Investments into Sipps at the IFA business jumped 53 per cent over the past tax year to £1.16 billion.
But poor market conditions contributed to a 2 per cent fall in assets under management, with the firm holding £10.7bn assets under administration at the end of March.
Direct-to-private investor fund supermarket and wrap platform Vantage’s assets dropped to £9.6bn from £9.8 billion in December.
Vantage however saw revenues climb by nearly a third, 31 per cent, on last year. Advisory division revenue rose 31 per cent to £3.8m and the discretionary divisions’ revenue increased 32 per cent to £2.5m. The company says the increased revenue was driven by rising average asset values.
New Isa contributions also rose by 2 per cent to £430 million, according to the interim management statement released on Wednesday.
Hargreaves Lansdown chief executive Peter Hargreaves says: “It is pleasing to report that despite the market creating poor trading conditions for the tax year ended 5th April 2008, we have taken more into our Isa and our Sipp than in the previous year.
He adds: “We expect market conditions to remain challenging but will continue to innovate and exploit any opportunities the market presents. As always, our asset values, revenues and profitability will be impacted by the performance of the market.”
