Hargreaves Lansdown increased its assets under administration by 41 per cent in the year ending 30 June 2011.

Assets under administration at the wealth management firm now total £24.6bn, up from £17.5bn for the same period last year.

Pre-tax profits for the company, which celebrates its 30^th anniversary this year, rose 46 per cent to £126m, up from £86.3m.

Revenue increased by 31 per cent to £207m, up from £159m last year.

This was primarily due to “recurring revenue streams of renewal income, interest and management fees” which accounted for 97 per cent of the increase.

It also saw its Vantage platform grow in popularity with 50,000 new clients being registered onto the platform.

This takes the total number of clients on the platform to 380,000.

Ian Gorham, chief executive of Hargreaves Lansdown, said: “Even though the investment market faces economic uncertainty, I believe that the company is extremely well placed to build on the momentum that has been generated.

“Since the year-end we have seen net new business and net new clients both significantly higher than last year’s comparatives.”

Mr Gorham said he expected Hargreaves Lansdown to continue to do well in the future due to the hold on interest rates.

Interest rates have stood at 0.5 per cent since March 2009.

He said the fact that interest rates were unlikely to rise anytime soon meant that investors would look for other income producing assets.