Investors’ confidence hit by Brexit, claims UK’s largest stockbroker

Hargreaves Lansdown, the UK’s largest stockbroker, has seen its share price fall significantly since the referendum result, citing low investor confidence amongst its largely retail-based clients. The total number of active clients is down 17% from earlier this year and net new business inflows in the three months to 30 September fell by a fifth to £1 billion. Despite rising anxiety, stock market gains buoyed its assets under administration by 9.5% and the broker has also reported a strong demand for clients to trade shares following the referendum with net quarterly revenues up 15%.