Wealth manager round-up: HL net new revenue up 8%

Total AUA nears £98bn

In a quarter than has seen a rebound in equity markets, many wealth managers are reporting stronger business than during the difficult Q4 2018, but they are remaining mindful of the challenges ahead. Investment Week takes a look at the latest results.

Hargreaves Lansdown Hargreaves Lansdown has reported net new business of £2.9bn in the four months to 30 April 2019, bringing total assets under administration (AUA) to £97.8bn. Year-to-date net new revenue was up by 8% to £395.9m, while picking up 53,000 net new clients over the period. Chief executive Chris Hill said he was pleased with the results and the strong tax year end, "despite the market backdrop". He added: "It is also pleasing to see the benefit of our investment coming through with Active Savings continuing to gather momentum and the announced transfers of clients a...