Hargreaves Lansdown saw its half-year profit jump by 31 per cent, as an upturn in its number of active clients offset a fall in the assets administrated by the company. 'Challenging external conditions and low investor confidence impacted asset values and stockbroking volumes in the period,' Hargreaves' outgoing boss Chris Hill said. Platform fees, shares, advisory fees and management fees from its own products all took a hit compared with the previous year. Management fees from Hargreaves Lansdown funds fell 14 per cent to £27million. Last month analysts at Jefferies downgraded Hargreaves Lansdown from 'hold' to 'underperform', stating rival Vanguard was rapidly gaining ground.

Source: Daily Mail February 15, 2023 22:58 UTC