View more on these topics

HL pulls in £420m Isas, £750m Sipps

Hargreaves Lansdown sold £420m of Isas in the last tax year – an increase of 30 per cent on the previous year.

The Bristol-based adviser’s Vantage platform took £2.3bn, up by 75 per cent on the previous tax year.

Its Sipp saw a 250 per cent increase in sales over the same period to £750m compared with £193m in 2005-06.

At March 31, the firm’s platform held around £7.4bn of assets directly on behalf of private investors, providing an impressive array of statistics ahead of Hargreaves Lansdown’s flotation next month.

Head of research Mark Dampier says a lot of Isa investing was left to the last minute, with the firm’s last one completed at 11.56pm on April 5.

Head of pensions research Tom McPhail says booming Sipp sales provide further proof that traditional personal pensions are being squeezed out of the market.

Recommended

Thames aims for the mainstream

Thames River is looking to set up a mainstream UK equity fund once its new multi-manager team led by Gary Potter and Robert Burdett have settled in, with UK equity income top of the list.

Upping the anti

Implementation of anti-age discrimination laws has done more harm than good.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment