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Stephen Lansdown nets £53m in share sell-off

Hargreaves Lansdown co-founder Stephen Lansdown has sold 5.5m shares in the company.

An announcement on the Stock Exchange reveals Lansdown sold the shares on Wednesday. He still holds 90 million shares and owns an 18.97 per cent stake in the firm.

The sale, based on a closing share price of 96p, saw Lansdown net £52.8m.

Both Lansdown and Peter Hargreaves featured in the Sunday Times Rich List this week. Lansdown was ranked 95 with an estimated wealth of £900m, while Hargreaves was ranked 47 with an estimated wealth of £1.5bn.


Out of Context

“Kevin is the Shane MacGowan of protection.” Lighthouse Services IFA Richard Mahony on Protection Review chief executive Kevin Carr at a drinking session.  “The man from the Pru still exists except now he is Asian and a woman.” Prudential deputy chief executive Barry O’Dwyer explaining how the firm is shedding sales staff in the UK but growing in […]

Jupiter: net flows fall 70% due to IFA ‘hiatus’

Jupiter has reported a 70 per cent fall in net flows in the first quarter of 2013, which it blames on a “hiatus” in the IFA market after the RDR. The firm’s net flows fell from £688m in the fourth quarter of 2012 to £209m in Q1. Jupiter says the predicted hiatus resulted in a […]


FCA vows business interests will not be overlooked

FCA chief executive Martin Wheatley says it is a “fallacy” to suggest that the regulator has to choose between being a consumer champion and pro-business. Speaking at the Lansons Communications Future of Financial Services conference, Wheatley said the FCA will adopt a more consumer-focused agenda than the FSA, but said this approach will not mean […]


FCA to ban all legacy fund manager-platform payments from 2016

All legacy payments on past business between fund managers and platforms are to be banned by 2016, the FCA has confirmed today. In its platform policy statement published this morning, the regulator said a sunset clause of two years would be applied from April 2014 to allow platforms to make the required changes to their […]

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Guide: Johnson Fleming’s managed auto-enrolment service for SMEs

Johnson Fleming has launched its new managed auto-enrolment service, designed to support SME businesses of up to 250 employees. The managed auto-enrolment service is not just about providing businesses with a software system for them to manage themselves, but more about outsourcing the administration of the project and scheme to Johnson Fleming’s auto-enrolment staff.


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