Hargreaves Lansdown (HL) has surpassed two million active clients for the first time and also reported record assets under administration (AUA) of £172.7bn.
The milestone comes eight years after the platform marked its first one million clients in 2017.
In the year to 30 June 2025, HL added a net 136,000 new clients, taking its total to 2.02 million.
AUA rose 11% from £155.3bn to £172.7bn, supported by a 43% increase in net new business to £6bn.
Underlying pre-tax profit climbed 19% year-on-year to £544.3m while client retention stood at 91.5%, broadly flat on last year.
Interim chief executive Richard Flint called the client landmark a “fantastic milestone” that reflected investor confidence in HL.
“Our business has really solid foundations in terms of the range of investments we offer and the trust our clients have in us,” Flint said.
“However, we recognise the need to continually invest in our technology and products, and we are committed to doing that,”
He added: “Importantly, we’re seeing that where changes are made, they deliver results – in everything from improved client experience to attracting and retaining more clients and assets.
“As the UK’s largest retail investment platform with the broadest range of saving and investment options, we’re excited by the huge opportunity ahead as we create a nation of retail investors for the future.”
Recent initiatives include launching the first and only digital VCT service, becoming the first platform to offer Long-Term Asset Funds (LTAFs) within a Sipp wrapper, and growing HL fund managers’ assets 16% year-on-year to £11.9bn.
HL’s milestone comes shortly after JPMorgan Chase announced plans to launch a UK retail platform next year, setting the stage for increased competition with HL and Interactive Investor.
