Customer Portfolios at Hargreaves Lansdown Top 28 Billion Pounds

LONON -- Hargreaves Lansdown (LSE: HL.L  ) gained 2 pence to 690 pence during early trade this morning after the investment administration group said the value of its customers' portfolios had topped 28 billion pounds.

The FTSE 100 (UKX) member confirmed its assets under administration had increased by 2.2 billion pounds to 28.5 billion pounds during July, August, and September. Hargreaves said the improvement had been supported by a rising stock market, 600 million pounds of new client money and 7,000 new customers.

In what Hargreaves described as "a pleasing start to the year," revenues for the group's first quarter jumped 20% to a record 69 million pounds. The firm also said its corporate customer base had doubled to 9,400 members during the summer.

Looking ahead, Ian Gorham, Hargreaves Lansdown's chief executive, claimed:

The beginning of the second quarter has seen considerably improved activity in the way of new investment opportunities. We have been encouraged to see potential investors seeking information and increased volumes of them converting into new clients, helped by the announcement of our new SIPP Loyalty bonus incentive and new share and fund launches.

Something customers -- and perhaps shareholders -- of Hargreaves may wish to consider are the upcoming changes to the group's charging structure.

Referring to the Retail Distribution Review, which from next year will change the way investors pay for investment advice, Gorham confirmed: "We expect to communicate the new pricing structure to our clients and other interested parties at a later date, when it is appropriate to do so."

Today's share-price advance adds to the wonderful gains enjoyed by longtime Hargreaves shareholders. The business joined the stock market during 2007 at 160 pence a share and the price hit a 135-pence low a year later in the banking crash.

Since then, however, it has been one-way traffic, with the price rallying five-fold... and delivering very healthy dividends along the way.

If you are keen to earn such handsome returns from top-notch growth shares, this free Motley Fool report explains the multi-bagger opportunities that can help build you a 1,000,000-pound portfolio. Maybe one day, your wealth could be transformed by a five-fold gain from a share such as Hargreaves Lansdown.

Just click here to download the "Millionaire" report today. But please hurry, as all Fool reports are free for a limited time only.

Investing is by no means easy in today's uncertain economy. That's why we've published "The Market's Top Sectors" -- our guide to three favorable industries. This free report will be dispatched immediately to your inbox.

Further Motley Fool investment opportunities:

Maynard does not own any share mentioned in this article. The Motley Fool owns shares in Hargreaves Lansdown.

Maynard does not own any share mentioned in this article. The Motley Fool owns shares in Hargreaves Lansdown. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

DocumentId: 2055272, ~/Articles/ArticleHandler.aspx, 7/30/2014 7:55:22 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated Moments ago Sponsored by:
DOW 16,880.36 -31.75 -0.19%
S&P 500 1,970.07 0.12 0.01%
NASD 4,462.90 20.20 0.45%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes


Advertisement