Hargreaves Lansdown co-founder increased his share sell off from £500m to £550m today due to strong demand from institutional investors. 

Peter Hargreaves, one of the two founders of Bristol-based investment provider Hargreaves Lansdown, is to sell £500m of his shares.

Bristol-based investment provider and Financial Planner Hargreaves Lansdown has reported its number of active clients has reached 1,188,000 - up 53,000 on the previous trading period and up nearly 100,000 in the past 12 months.

Baillie Gifford, the Edinburgh-based investment management partnership, is to transfer its investment trust savings scheme, including its ISA, Share Plan and Children’s Savings Plan, to Hargreaves Lansdown.