Asset Management

Hargreaves Lansdown first-half profit sinks 20% as CEO says industry ‘ready to be disrupted’

Wealth management is 'at a key inflection point — ready to be disrupted by a next-generation service,' chief Chris Hill said

Hargreaves Lansdown’s revenue fell to £291.1m from £299.5m, dragged by record-low interest rates and lower share-trading
Hargreaves Lansdown’s revenue fell to £291.1m from £299.5m, dragged by record-low interest rates and lower share-trading Photo: Alamy

Hargreaves Lansdown reported a decrease in profit for the first half of fiscal 2022 on lower share-dealing revenue, and said that it will announce a new growth strategy.

The London-listed retail-investment platform posted a pretax profit on 22 February for the six months ended 31 December of £151.2m ($205.7m), compared with £188.4m a year earlier.

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