Hargreaves Lansdown has boosted new business and revenue according to its latest trading statement.

The Bristol-based investment firm increased new business by £3.3bn in the four month period to 30 April, added 60,000 new clients and saw a 16% surge in revenue.

The company had assets under administration of £88.8bn as of 30 April and year-to-date total net revenue of £366.6 million.

Net revenue for the period was £150.6 million, up from the 2017 figure £130.9m, benefitting from net new business, higher market levels than last year and strong share dealing volumes.

Chris Hill, chief executive, said: “Hargreaves Lansdown had another good tax year end, delivering strong net new business of £3.3bn over the busiest time of our year and welcoming another 60,000 net new clients.

“We have continued to invest in our helpdesk, operations and technology teams and I'm pleased that the consequence of this is that we are able to support stronger volumes of client activity whilst maintaining our leading reputation for client service.

“We believe continuing to make investments in client service and technology is crucial to the ongoing success of Hargreaves Lansdown.”