Proactive Investors - Hargreaves Lansdown (LON:HRGV) shares jumped almost 8% after the DIY investment and savings platform announced strong third-quarter numbers.
The end of the tax year seems to have reignited activity among investors, with net new business of £1.6 billion in the period and well ahead of the consensus forecast of £1.4 billion.
These flows included £0.9 billion on the investment platform and £0.7 billion on HL's Active Savings pots, showing that clients were more active in the run-up to the tax year-end.
A higher-than-expected 34,000 new customers joined during the third quarter, taking the overall number of active clients close to 1.9 million.
Assets under administration closed the quarter at a record for the company of £149.7 billion and ahead of the £148 billion City consensus, while revenue for the period was up 6% to £199.7 million versus £186 million expected.
Broker Peel Hunt (LON:PEEL) said: "If looking for any small negative, asset/client retention rates weakened very slightly."
Analysts at Panmure Gordon said: "It would be premature to call a lasting turn, cost of living pressures are still a material feature, but this is a good update and certainly a better performance than is discounted in the share price."