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Despite a forecast-busting 20% rise in pre-tax profits, Peter Hargreaves chief executive of the country's biggest private client investment firm Hargreaves Lansdown was typically blunt today.
“We cannot rest on our laurels. Markets are still nervous and we expect more turbulence,” he said.
Chairman Stephen Lansdown said he expects more and more people to switch from paying off their debts to putting more money into savings in the coming months.
He said: “We are already seeing clients looking for new sources of income like corporate bonds and fixed interest funds while savings rates are so low.
“Others are starting to look for growth in emerging market shares and areas like that.”
Pre-tax profits increased to £73.1 million while assets under management rose 7% to £11.9 billion.
A special dividend paid out of cash generated on top of an increased final dividend means a pay-out of 7p a share. That means Hargreaves will receive a cheque for £10.7 million and Lansdown £9.2 million at the end of the month.
