Hargreaves assets top £35bn as inflows break records

Hargreaves Lansdown has achieved record levels of assets under administration after attracting £4.7bn of new money in the three months to April.

Net inflows to 31 March stood at £1.8bn, a record for any quarter in its history, as initial signs suggest the company is a major beneficiary of the post-RDR environment. The platform now runs £35.1bn of client assets, up from £30.4bn as of 31 December 2012, with the quarterly rise prompting a 23% increase in revenue for the period, to £76.3m. Hargreaves CEO Ian Gorham (pictured) said the group does not expect "any surprises" from the forthcoming final platform paper, but added HMRC"s recent decision that rebates to investors are taxable - dubbed a 'discount tax' by Hargreaves - shoul...