Hargreaves profits leap after push for private client business

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

While many small stockbrokers are struggling to make money, the wealth manager, which is already dominant in the online unit trusts, ISAs and SIPPs markets, simplified and cut its share dealing charges last summer.

Founder Peter Hargreaves said: "Traditionally the online broking market has been dominated by TD Waterhouse and Barclays Stockbrokers, with several people, including ourselves, claiming third spot.

Now we have cut our tariffs and put more functionality on our site, with things like stop losses and order limits, we are seeing many people trading with us."

The group attracted £1.16 billion of new business in the past six months, with another 16,000 people joining its Vantage money management platform, taking the total client base to 396,000.

Hargreaves is now pushing to get its customers to lodge more of their cash with the firm. He said: "We are hoping to offer cash ISAs and other such products but we don't plan to become a bank
just yet."