British investment manager Hargreaves Lansdown has reported revenue of £104.1m for the first quarter ended 30 September 2017, a 15% increase compared to £90.5m in the same period last year.
Assets under administration (AUA) totalled £82bn at the end of September 2017, a 21% surge from £67.6bn a year ago.
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Net new business rose to £1.54bn during the period from £1.11 the last year. The company attributed the growth to improved market sentiment, continued investment in digital marketing presence, and increase in client numbers.
The company gained 30,000 new clients during the period, increasing the number of total active clients to 983,000.
Hargreaves Lansdown CEO Chris Hill said: “I’m pleased to report a solid start to the new financial year for net new business and revenue.
“We continue to place clients at the centre of what we do and our relentless focus on the level of service that we provide is enabling both existing and new clients to save and invest with confidence.”
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By GlobalData
