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Hargreaves targets fee-based advice growth in 2012

Hargreaves Lansdown has told FTAdviser that it sees growth opportunities within its fee-based advice proposition in 2012, as the regulatory and economic environment presents “acute challenges” for other firms in the financial advice sector.

Ian Gorham, chief executive of Hargreaves Lansdown, told FTAdviser that the firm will seek to grow its advised service offering, but that direct business will “remain core” to the firm.

He said: “We have established a reputation for providing high quality service and value-for-money products to private investors, whether they are making their own investment decisions or looking for an advisory or discretionary service.

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“This remains at the heart of everything we do and we aim to build upon our success to date.

“We remain flexible and responsive to opportunities, competition and the changing environment, as was seen in early December when we launched our new index-tracker service.”

Mr Gorham said he expects to see “continued opportunity for growth” from Hargreave’s corporate wrap proposition, digital media and its “investment supermarket” strategy.

He said that during 2011, enhancements to its client services included new iPhone and Android apps, additional stockbroking facilities, reduced tariffs, online overseas dealing and Junior Isa, adding that 2012 would see a host of other new services launched.

Mr Gorham said: “Hargreaves Lansdown aims to help advisers make more of their investments by aiming to provide the best information, the best service and the best prices.”