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Hargreaves Lansdown gains 137,000 customers in a year

Joanna Faith
Written By:
Joanna Faith

Britain’s biggest investment platform Hargreaves Lansdown welcomed even more customers this year.

The company, which this morning revealed an impressive set of full-year results, took in 137,000 new clients in the 12 months to 30 June – 16% more than last year, with many of them transferring from other platforms.

It now looks after the savings and investments of nearly 1.1 million people and has assets under administration of £91.6bn, up from £79.2bn in the same period last year.

The FTSE 100 firm revealed that pre-tax profits increased by 10% to £292.4m and net revenue was up 16% to £447.5m, leading it to increase its total dividend to shareholders by 38% to 40p per share.

Chief executive, Chris Hill, said: “We have had another year of strong growth, in client numbers, net new business, market share and profits, driven by our continued commitment to provide excellent levels of service.

“Our continued investment into our people, technology and marketing helps our clients to engage with their savings and investments. This provides them with the knowledge and confidence to make decisions and our range of solutions makes it easy for them to act.

“We have a huge responsibility to help more than a million clients at a time when they have never needed our help more, and we are uniquely well positioned to provide them with the solutions they need.”

Hill said the firm wanted to be “a household name”, and to be considered “the best place for savers and investors” in the country.

He reported a client retention level of 94.3% for the period in review.