Cash levels at Hargreaves Lansdown (HL) swelled a further 23% in the six months to 30 June, up to £13.6bn, as investors fail to reinvest or withdraw their money.
Money left uninvested on the platform could result in the firm earning interest on clients' cash rather than the individuals' themselves. It comes amid concerns from the Financial Conduct Authority (FCA) that, were a platform business to collapse, investors would struggle to recover their money. Hargreaves Lansdown relaunches new 68-strong Wealth Shortlist The cash levels at the investment platform currently comprise 13% of the firm's total assets under management, according to the H1 2020 results, which also revealed the firm generated £91m in revenue from interest on client cash, up...
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