Hargreaves Lansdown gains 137000 customers in a year

BRITAIN-POLITICS-EU-BREXIT

That brings the total number of the firm's clients to just over the 1m mark, an increase of 137,000 from a year ago.

Britain's biggest investment platform has increased its shareholder dividend by almost 40 per cent after reporting a 10 per cent rise in annual profits.

For trading platforms like Hargreaves Lansdown, however, it's the business inflows that can make or break the results day reaction and while net new business increased 10% YoY, compared to the prior quarter Assets Under Administration increased only 3.1% from £88.8bn in their May trading statement to £91.6bn today.

The company, which offers a range of investment products to retail investors, said it took in a record 7.6 billion pounds in net new business, boosted by a rise in client numbers.

Investment company Hargreaves Lansdown has reported a year of "strong" growth with the number of active clients it served passing one million and profits before tax nearing the £300m mark.

Looking ahead, the company warned: 'Brexit is on the horizon and the prevailing political and economic turbulence is having an effect on investor confidence'. "However, we believe that continuing to place our clients at the centre of what we do and establishing a lifelong relationship with them will enable us to continue to build share in a growing market. Our platform, combined with our scale, knowledge, expertise and client focus, uniquely positions us to provide the solutions required and capitalise on this opportunity". Clients need help and they want solutions, not just information.

I am pleased we have been able do all of this whilst also reinstating a special dividend to shareholders, resulting in a 38 per cent increase in the final dividend.

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