Hargreaves Lansdown focusing on 'cost control' amid mixed results

Revenue and active client growth positive despite AUA woes

Hope William-Smith
clock • 2 min read

Hargreaves Lansdown says it is focussing on “cost control and investment discipline” for the rest of the year after releasing its results for the quarter ended 30 September.

A trading update on the London Stock Exchange this morning (17 October) confirmed the firm brought in net new business of £700m for its first quarter, closing assets under administration (AUA) of £122.7bn. Hargreaves' statement said the AUA figure "reflects adverse market movement" of £1.8bn between July and September with "negative performance in September offsetting July's positive movement". Revenue for the three months was £162.9m, representing a 15% increase which the firm said was driven by higher revenue on cash and "offsets the reduction in share dealing volumes" as well as th...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on ISAs

Investors flock to ISAs amid fears of Autumn Budget CGT hike

Investors flock to ISAs amid fears of Autumn Budget CGT hike

Rise in maxed out allowances as Budget looms

Cristian Angeloni
clock 23 October 2024 • 3 min read
Why clients should consider a switch from Help to Buy to Lifetime ISA

Why clients should consider a switch from Help to Buy to Lifetime ISA

Almost five years since Help to Buy ISAs were closed to new applicants

Laura Suter
clock 22 October 2024 • 3 min read
Advice industry split on whether a simplified ISA system is needed

Advice industry split on whether a simplified ISA system is needed

Some call for less variations but others say ‘why change it now?’

Isabel Baxter
clock 14 October 2024 • 3 min read