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Hargreaves Lansdown said it generated £500m 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 prepares for a private equity takeover in 2025.
The London-listed investment platform said it generated £500 million in new business in the three months to September 30, compared with £600 million in the previous quarter.
However, assets under management ended the quarter in line with analyst expectations at £157.3 billion.
The firm welcomed 18,000 clients, up from 8,000 previously, driven mainly by its pension and savings products.
Asset retention, a measure of whether clients are selling their assets on Hargreaves’ platform, fell slightly to 88.6 percent from 89 percent in the first quarter.
Earlier this month, shareholders agreed to a £5.44 billion takeover by a consortium including buyout giant CVC Capital Partners and Abu Dhabi wealth fund.
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