British investment manager Hargreaves Lansdown’s total assets under administration (AuA) has increased to £47bn for the three months ended 30 September 2014, up by £0.1bn compared to £46.9bn in June 2014.
The group’s net revenue for the fiscal first quarter of 2015 was £70.8m, up by 1% compared to £70.1m reported in the first quarter of 2014.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Hargreaves Lansdown said that its net business inflows for the quarter ended 30 September 2014 declined to £0.97bn from £1.26bn reported a year ago.
The firm’s number of active clients also rose by 10,000 to 662,000 from 1 July 2014 to 13 October 2014, compared to 20,000 in the first three months of this year.
Also, IMA Total UK net retail fund sales were on average 39% lower and UK retail stock broking trades 13% lower in July and August 2014 compared to the same months in 2013.
Hargreaves Lansdown is also planning a range of new cash-related services for clients, which can be developed without any current need for a banking license.
For the first half of 2015, the company expects overall revenue margin to remain unchanged, with no price changes planned.
Ian Gorham, chief executive of Hargreaves Lansdown, said: "As ever, future stock market levels and investor confidence will have a significant part to play during the remainder of our financial year. However, we remain confident of growing the business further to the benefit of our clients and shareholders."
