# Hargreaves Lansdown AuA of £138.0 billion, up 2% since 30 June 2021

- Link: https://www.directorstalkinterviews.com/hargreaves-lansdown-aua-of-138.0-billion-up-2-since-30-june-2021/4121028050
- Published: 2021-10-15T07:19:53+01:00
- Author: Amilia Stone

**[Hargreaves Lansdown plc](https://www.directorstalkinterviews.com/ftse-company/hargreaves-lansdown-plc-lon/hl.l)**(
LON:HL) has published a trading update in respect of the three month period to 30
September 2021. The comparatives are for the period from 1 July 2020 to 30 September
2020.

**Highlights**

·       Net new business of £1.3 billion in the period

·       Net new clients of 23,000

·       Assets under administration of £138.0 billion as at 30 September 2021, up
2% since 30 June 2021

·       Revenue for the period of £142.2 million (2020: £143.7 million)

> **Chris Hill, Chief Executive Officer, commented:**
>  “Today we report a good start to our financial year, with continued growth in
> clients and assets in what is typically our quietest quarter. The client retention
> rate remains solid at 92.6% and we continue to see new clients build wealth, diversify
> holdings and engage with the proposition. These results are against the backdrop
> of an easing out of lockdown and ongoing market uncertainty and highlight the 
> importance of a resilient business and the strength of our proposition. The normalisation
> of revenues post pandemic is in line with our expectations and our focus, as always,
> remains on our clients, and their lifelong needs.  We are confident that our client
> focused strategy, delivering the highest level of service and continuing to invest
> in our market leading proposition, means that we continue to be well positioned
> to execute against the growth opportunity ahead of us. I look forward to providing
> more detail with my executive team at a capital markets day in Q1 2022.”

**Assets under administration and net new business**

| £ billion | Three months to 30 September 2021 | Three months to 30 September 2020 | 
| Opening AUA | 135.5 | 104.0 | 
| Net new business | 1.3 | 0.8 | 
| Market movements | 1.2 | 2.1 | 
| Closing AUA | 138.0 | 106.9 |

Net new business was £1.3 billion during the period (2020: £0.8bn) driven by higher
client numbers, ongoing wealth consolidation on to our platform and flows into Active
Savings. This is a pleasing result given the seasonal quieter summer period and 
the easing of lockdown restrictions.

A positive market movement of £1.2 billion, combined with net new business has driven
AUA to £138.0 billion as at 30 September 2021.

We welcomed 23,000 net new clients in the period (2020: 31,000), taking active client
numbers to 1,667,000.

**Revenue**

Revenue for the period was £142.2 million, down 1% on last year (2020: £143.7m).
Asset based revenues were higher, driven by net inflows and positive market movements
as demonstrated by the FTSE All Share, which was up 23% versus the comparative period.
However this was more than offset by previous guidance of a drop in interest on 
client money and a reduction in share dealing revenues.

As anticipated share dealing volumes have declined post COVID lockdowns and across
the quarter averaged 861,000 deals per month versus 980,000 in the quarter last 
year and 479,000 the year before. This equates to c40,000 deals per day which is
in line with the guidance we gave for this financial year.

**Capital Markets Event**

Hargreaves Lansdown will host a capital markets event in Q1 2022 which will set 
out how we will execute against the growth opportunity ahead of us and deliver beyond
this period of post pandemic ‘normalisation’.

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