Hargreaves Lansdown records £4.6bn new business but is wary of post-lockdown lull
FTSE 100 platform provider suspects elevated share dealing volumes may start to flag as lockdown eases
Hargreaves Lansdown had a bumper start to the year as assets under administration hit £132.9bn, but it warns share dealing volumes could slow as lockdown restrictions are eased.
In a trading update for the year to 30 April, the FTSE 100 company reported net new clients for the period of 126,000, bringing total active client numbers to 1.6 million. Year to date, Hargreaves has added 210,000 new clients, a 15% increase.
Hargreaves Lansdown chief executive Chris Hill (pictured) described it as a period of “very strong growth with record net new business, record Isa subscriptions, record client growth and record share dealing volumes, reflecting the benefits of the investment we have undertaken in recent years in our digital platform and the diversity and strength of our client proposition”.
Tilney Smith & Williamson to roll out hybrid digital advice service as assets double
Tilney Group closes out 2020 with £51.2bn in AUM following its merger with Smith & Williamson in September
Tilney Smith & Williamson is preparing to roll out a hybrid digital advice service as its assets under management nearly double following the completion of the merger.
The wealth manager reported a 6.7% increase in net inflows last year to £704m from £660m in 2019. It took in an additional £489m over the first quarter of 2021, according to its latest trading update.
Tilney Group’s assets under management almost doubled from £26.3bn in 2019 to £51.2bn at the end of 2020 after its merger with Smith and Williamson last September added £22.3bn to the pot, with total AUM finishing Q1 at £51.6bn.
Cornelian manager joins Brooks Macdonald co-founder at Aubrey Capital Management
David Neilson will join Edinburgh boutique as an investment director
David Neilson will join Brooks Macdonald co-founder Jon Gumpel at Aubrey Capital Management as an investment manager in its private client team.
Neilson (pictured) joins Aubrey from Cornelian Asset Managers where he worked as an investment manager for a diverse range of private clients, trusts, companies, pensions and charitable portfolios, as well as external IFAs to secure discretionary and agency business.
Neilson has previously held roles at Russell Investments and Turcan Connell Asset Management where he assisted in the management of a wide range of client portfolios.