Hargreaves Lansdown has reported assets under administration increased by 8% in the 12 months to June 2023 to £134bn, as the new CEO has set his sights on further growing the direct-to-consumer investment platform.
Positive market movements helped boost AUA, as net new business took a tumble during the period, down 13% to £4.8bn. But pre-tax profits increased by 50% to £402.7m. The firm now has 1.8 million active clients, an increase of 67,000 in the year, with client retention stable at over 92%. Hargreaves Lansdown adds BNY Mellon US Equity Income to Wealth Shortlist Dan Olley, who took over as CEO of Hargreaves Lansdown on 7 August from his previous role as a non-executive director of the company, said there "continues to be a challenging broader economic environment". Olley explained: ...
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