Hargreaves Lansdown chief Peter Hargreaves reports record profits as he steps down. The 63-year-old, who steps down as Hargreaves Lansdown chief executive, backed Treasury plans to slash the UK’s “horrendous” debts and called for less red tape.
He described the City of London as a “gem” which needed to be nurtured not attacked through high levels of taxation and banker-bashing.
It came as he unveiled record results at Hargreaves Lansdown, the stockbroker and fund manager which he co-founded in 1981 with Stephen Lansdown.
Annual profits jumped 18% to £86.3 million as the firm sucked in a net £3.3 billion from savers and investors — 65% more than in the previous year.
The company’s assets under management leapt by 47% to £17.5 billion.
Hargreaves, 111th in the Sunday Times Rich List with a fortune of £570 million, said: “If the Government does what it says it is going to do — if it really cuts the public sector — it will be the best Government we have ever had. Source: This is London
Hargreaves Lansdown is a financial services company that sells annuities and pensions amongst other financial services products.
We asked Kevin Stelfox, Sales Director at Retirement Solutions to comment on the news about Peter Hargreaves stepping down as cheif executive, Kevin said, “Hargreaves Lansdown are a hugely respected financial services company and one that every other independent financial adviser aspires to be.”
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