Hargreaves Lansdown posts 6% increase in net new business for Q2 2023

AUA up 2%

Hargreaves Lansdown has reported £1.7bn in net new business for the second quarter of the year, a 6% increase from Q1 2023.

The company said the inflows were due to clients focusing on utilising their ISA and SIPP tax allowances in the final days of the 2023, and start of the 2024, financial years. Hargreaves Lansdown chair expected to resign following pressure from founder - reports Despite the 6% increase, the Q2 2023 figure was still lower than the £1.8bn in net new business posted in Q2 2022. Assets under administration also grew during the quarter, closing at £134bn - a 2% rise from the first three months of 2023 - thanks to £1.7bn in net new business and a £300m positive market movement. The pl...