Train: Hargreaves assets could reach £240bn by end of decade

Nick Train, a long-term backer of Hargreaves Lansdown, has said the platform's assets could hit £240bn by 2020 - a figure which would mean adding £200bn in AUA over the next six years.

Hargreaves is now Train's top holding in his £750m Lindsell Train UK Equity fund, following a huge jump in price - shares are up 105% over the past 12 months - which has left some investors cautious on its future prospects. On Wednesday the company's shares suffered a set-back, dropping 4% after it revealed its new pricing structure, but the upward trend remains firmly in place. That is despite a major shift in its business model, caused by the RDR and the move to ban rebates. As of 1 March Hargreaves will charge users an ongoing platform charge, as well as a host of other fees for va...