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Wealth manager Hargreaves Lansdown said net assets grew 3% in the third quarter of the year as net new business was impacted by weak investor sentiment arising from ongoing Brexit and political uncertainty in the UK and wider global macro issues such as trade tariffs.
For the three months ended 30 September, assets under administration (AuA) rose 3% to £101.8bn from the second quarter and revenue was up 6% to £128.1m.
The company added 35,000 new clients in the period, up from 29,000 a year earlier ago, taking active client numbers to 1.26m.
'Whilst we anticipate that costs will typically be aligned to client number growth, we are mindful of the external market environment, and hence remain watchful on costs despite the client and revenue growth experienced during the period,' the company said.