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Wealth management company Hargreaves Lansdown reported a 'good' start to its new fiscal year as assets under management increased thanks to new funds inflows.
For the three month period to 30 September 2021, assets under administration increased to £138.0 billion from £106.9 million year-on-year as new business was up £1.3 billion from £0.8 million.
New business was driven by 'higher client numbers, ongoing wealth consolidation on to our platform and flows into active savings,' the company said.
Revenue for the period fell to £142.2 million from £143.7 million.
'The normalisation of revenues post pandemic is in line with our expectations,' the company said.