Market rally boost for Hargreaves Lansdown

Wealth manager and advisory firm Hargreaves Lansdown has seen assets under management grow by almost a fifth over the three months between June and September.

Total asset values climbed to £14.5bn over the period, up from £10.3bn last year. A stock market rally combined with low interest rates on cash galvanised investors into action in what is a historically quiet period, according to the firm. The boost in asset gathering and a record rise in demand for the firm's stockbroking services helped to support a 13% increase in revenue to £36.1m, compared to the same quarter in 2008. "The rise in stock markets throughout the world has made a huge impact on the value of assets under our administration," says Hargreaves Lansdown chief executive P...