Hargreaves Lansdown Reports Revenue Growth This Quarter

Hargreaves Lansdown reports strong revenue growth this quarter, driven by increased client activity and higher assets under administration.

Home » Hargreaves Lansdown Reports Revenue Growth This Quarter

Hargreaves Lansdown released a positive trading update, highlighting significant revenue growth this quarter and increased client activity. Total revenue for the quarter reached £196.5 million, up from £183.8 million in the previous quarter. Higher dealing volumes and elevated platform revenue, bolstered by improved assets under administration (AUA), drove this increase.

While cash revenue declined year over year due to a reduced net interest margin, the overall results reflect the company’s resilience in a competitive market. AUA concluded the quarter at £157.3 billion, with a positive market movement contributing £1.5 billion and net new business adding £0.5 billion, slightly down from the £0.6 billion reported in Q1 2024. The firm also experienced robust net client growth, adding 18,000 new clients this quarter compared to just 8,000 in the previous quarter. Client retention improved to 92.0%, while asset retention remained at 88.6%.

Hargreaves Lansdown Reports Revenue Growth This Quarter

Average monthly share dealing volumes rose to 738,000, up from 634,000 in Q1 2024. Notably, overseas deal volumes represented 20.2% of total transactions, an increase from 18.3% in the previous quarter. Additionally, client cash balances grew to £12.7 billion, compared to £12.4 billion, largely driven by net selling of investments by clients in September.

Dan Olley, CEO, commented on the trading update, saying, “Shareholders have approved the proposed acquisition of Hargreaves Lansdown, and it is now subject to certain outstanding regulatory approvals, with completion expected in Q1 2025. In the meantime, we remain as committed as ever to supporting our clients with the best service, experience, and value.”

Olley emphasized the importance of saving and investing, stating, “With millions of households without enough saved to enjoy a comfortable lifestyle in later life, it has never been more important for the UK to save and invest for their financial futures.” He concluded that Hargreaves Lansdown is well-positioned to assist in this crucial endeavor as the UK’s largest platform for retail investors

Also, Stay Updated With The Latest Broker News.

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertise with us

Subscribe to Newsletter

Brokers Reviews

XM is a global online broker that specializes in Forex and CFD trading. Headquartered in Cyprus, the company operates under the regulation of CySEC. It offers traders the opportunity to trade various financial instruments, including forex pairs, commodities, indices, and stocks.

eToro is a regulated online brokerage that offers trading of a wide range of trading instruments, including over 3,000 tradeable symbols, including CFDs, forex pairs, and exchange-traded securities, which can be traded through their eToro Investment Platform.

IC Markets is a licensed forex CFD broker, extending an opportunity for day traders, scalpers, and newcomers to engage in CFD trading. They furnish their clients with state-of-the-art trading platforms, high-speed connectivity with minimal delays, and exceptional liquidity.

Latest News