British investment manager Hargreaves Lansdown has recorded net inflows of £2.75bn in the four months to 30 April 2015, an increase of 7.84% compared to £2.55bn in the year ago period.
The group’s total assets under administration rose by £6.2bn to £55.3bn pounds, compared with £49.1bn at the end of December 2014.
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Hargreaves Lansdown, which makes most of its money by offering retail investors access to a range of funds through an online platform, said the number of net new active clients on its main online platform rose by 40,000 in the four month period, taking total active clients to 715,000 at the end of April 2015, a rise of 13% from 630,000 a year earlier.
Hargreaves Lansdown CEO Ian Gorham said: "Hargreaves Lansdown has invested heavily in at-retirement support and planning tools… The group has benefited from both extensive new business and consolidation through inward transfers.
"We have also experienced lower than expected withdrawals from pensions as clients appear to be using the freedoms extremely sensibly."
The company in its latest trading update said it will launch a new non-advised service later this year to allow customers to invest directly in model portfolios.
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By GlobalDataThe new service, HL Portfolio Plus, will be launched by the end of June 2015. The portfolios will be will be rebalanced as part of the service.
