Q1 updates: Hargreaves Lansdown's tech investments boosts ISA season activity

Asset and wealth manager trading updates

Hargreaves Lansdown reported £3.3bn of net new business and 60,000 net new clients over this year's ISA season, bringing total assets under administration (AUA) to £88.8bn.

In a trading update for the four months to 30 April 2018, the business said it has continued to invest in its helpdesk and technology teams and, as a result, has been able to attract higher client activity. Net new business for the period was £3.3bn, the same amount as last year, and bringing total net inflows year to date to £6.6bn. Total AUA was £88.8bn and although the group said market movements detracted £600m from this figure, it was an increase from £84.8bn on 31 December 2017 and £74.2bn on 30 April 2017. OMGI transfers ISA service to Hargreaves Lansdown Meanwhile, net reve...