Hargreaves Lansdown has announced that revenue rose by 12% to £143.7m in the three months ended 30 September, up from £128.1m reported the year before.
Assets under administration totalled £106.9bn as of 30 September 2020, up 3% since 30 June 2020.
In addition, net new business totalled £0.8bn in the three month period, down from £1.7bn the year before.
In addition, it noted that last year benefited from direct back book transfers from J.P. Morgan and Baillie Gifford of £0.9bn.
During the quarter, flows into Active Savings was “hampered” by the market leading rates from government backed NS&I. However, since NS&I cut their interest rates in mid-September, the group has seen a “marked impact” on flows back into Hargreaves Lansdown’s Active Savings.
In the same period, net new clients totalled 31,000, taking active client numbers to 1,443,000.
CEO Chris Hill said: “Today we report a good start to our financial year, with growth in clients, assets and revenue. These results are against the ongoing backdrop of market uncertainty and highlight the resilience of our business model and client proposition.
“We are confident that the strategy we have invested in, with our focus on the needs of UK investors and savers and delivering the highest level of client service, means that we continue to be well positioned to deliver continued attractive long-term growth.”