Hargreaves Lansdown has announced that revenue rose by 15% to £550.9m in the year ended 30 June, 2020, up from the £480.5m reported the year before.
In its latest trading update, the investment group also noted that pre-tax profit rose by 24% to £378.3m in the same period, while total assets under administration rose by 5% to £104.0bn.
Its total net new business was reported at £7.7bn, after delivering a “performance of great strength”.
The group said it benefited from ongoing investment in the scalability, diversity and resilience of its business model.
It added that clients “must have confidence” in its ability to remain secure, whilst building resilience into their savings and investments.
In its latest update, the group said: “Following the general election, we saw an increase in client confidence, engagement and activity levels. As the world became disrupted by Covid-19, the benefits of our investments over the past few years became clear.
“Whilst being focused on colleague welfare throughout, we remained open for business through the crucial tax year end period. We were able to cope with a surge in net new clients, NNB and record activity levels.”
Chris Hill, CEO, said: We have delivered a strong performance, despite an external environment of persistent challenge.
“The benefits of putting our clients at the heart of everything we do, combined with our investment in the scalability, diversity and resilience of HL’s business model, have been demonstrated through a record 188,000 net new clients, bringing total active clients to over 1.4 million and £7.7bn of net new business, also a record.”
He added: “ The acute challenges of this year have reinforced the importance of resilience for us all and we will continue to have a key role in helping our clients build resilience into their savings and investments to enable themselves to be confident to manage through difficult periods and events.
“Our focus on clients, the trusted relationships we have with them and the investment we have made to broaden and strengthen our proposition, means that we are strongly positioned to help our clients navigate through these unprecedented times.”