Net new business at Hargreaves Lansdown slowed in the most recent quarter, as flows into the firm’s platform business turned negative.
In a trading statement published today (29 October), the UK's largest DIY investment platform reported assets under administration of £157.3bn as of 30 September, up from £155.3bn at the start of the quarter. The increase was fuelled by £1.5bn in positive market movements and £500m in net new business, a slowdown from £600m in the same period last year and £1.6bn in the previous quarter. Net inflows into the firm's Active Savings business rose to £800m. However, the platform recorded £300m in net outflows, a shift from £100m in the same period last year and £900m in net inflows over...
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