Update: Hargreaves Lansdown shares jump 5% following 'record' quarter

Helped by JPMAM acquisition

Hargreaves Lansdown shares soared 4.8% in morning trading, after quarterly results from the group said net inflows rose by 47% in the three months to the end of September.

In its trading update for the period from 1 July to 13 October, the firm said net new inflows were £1.4bn, up 47% year-on-year prompting shares to rise 6.7% to 1,368p. The higher inflows was helped by £14.8m of new business that followed the acquisition from J.P.Morgan Asset Management, announced in June, as well as the addition of 496 new clients over the period.  Net revenue was up 11%, from £70.8m over the same period a year ago to £78.5m.  The firm said these results mark "record net new business and net new active client numbers for the first quarter of any financial year". ...