Takeover looms over Hargreaves as investment platform suffers a 16% drop in new business

Takeover looms over Hargreaves as investment platform suffers a 16% drop in new business By Daily Mail City & Finance Reporter Updated: 22:22, 29 October 2024 e-mail View comments Hargreaves Lansdown said it brought in £500 million in net new business in the three months to September 30 Hargreaves Lansdown saw a more than 16 per cent drop in new business last quarter, as it gears up for a private equity takeover in 2025. The London-listed investment platform said it brought in £500million in new business in the three months to September 30, compared with £600million in the previous quarter. However, assets under administration finished the quarter in line with analyst expectations at £157.

3billion. The firm welcomed 18,000 clients, up from 8,000 previously, driven mainly by its pensions and savings products. Asset retention, a measure of whether customers are selling their assets on Hargreaves’ platform, fell slightly to 88.



6 per cent from 89 per cent in the first quarter. Earlier this month, shareholders agreed to a £5.44billion takeover by a consortium including buyout giant CVC Capital Partners and the Abu Dhabi wealth fund.

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