Hargreaves Lansdown has posted a document £150bn belongings below administration and stated the variety of web new shoppers climbed 48% to 1,858,000 lively shoppers within the three months to the tip of March.
In a buying and selling replace printed at present the agency stated it gained 34,000 web new shoppers within the interval.
It reported “good momentum” with elevated gross inflows, web new shoppers and share dealing volumes.
Hargreaves posted web new enterprise of £1.6bn within the interval and shutting belongings below administration of £149.7bn.
It stated income for the interval was £199.7m, up 6% from £188.1m in the identical interval in 2023.
Dan Olley, chief govt, stated: “Our relentless deal with shopper service, making it simple to save lots of and make investments to make sure that we meet our shoppers’ wants has delivered clear outcomes this quarter.”
He stated extra shoppers had targeted on utilizing their ISA and SIPP allowances and that shopper retention ranges stood at 91.4% within the quarter.
Its lively financial savings account launched two years in the past hit a £10bn milestone with a 75% uplift in new shopper numbers in comparison with the earlier yr.
Share dealing volumes averaged 794,000 monthly within the quarter up from 770,000. Abroad deal volumes grew to signify 23.6% of whole offers within the quarter up from 16.8%.
Trying forward Mr Olley stated that momentum continued into April “as shoppers reap the benefits of the advantages of investing in the beginning of the tax yr.”
He stated: “We proceed to make good progress in opposition to our priorities for the yr – enhancing our shopper proposition, controlling our prices and rising our execution tempo in order that we will capitalise on the numerous development alternatives that lie forward and create worth for all our stakeholders.”
Hargreaves Lansdown has seen a lot of modifications to the senior administration group in current months.
Alison Platt changed Deanna Oppenheimer as chair of the board in February. Ms Oppenheimer unexpectedly give up in November after activist traders threatened to vote in opposition to her re-appointment on the December AGM.
Some traders had been sad with the agency’s share worth efficiency in recent times, together with one of many founders, Peter Hargreaves. Deanna Oppenheimer served as chair for six years throughout which the share worth fell from a peak of two,419p in Might 2019 to 706p by the point she give up. Immediately’s figures despatched the shares climbing 4% to 820p.
The corporate will challenge a fourth quarter buying and selling replace on 19 July after which the complete yr outcomes on 9 August.
