From The BBC:
They started in a spare bedroom in Bristol, twenty eight years ago.Now, Peter Hargreaves and Steve Lansdown’s firm of investment advisers is valued at over £1bn on the London Stock Exchange. And after the worst year on the FTSE in decades, Hargreaves Lansdown has reported a profit of £73.1m in the year to June, up from £60.9m in the previous 12-month period. So how have they defied financial gravity? “We have our clients to thank,” Peter Hargreaves says in his typically bluff manner. “They’ve stuck with us through a difficult year, and told their friends about us too.” It is true that an additional £2bn has been invested this year, taking total investments to just shy of £12bn. But the Bristol firm has also, to some extent, bucked the recent massive falls in the market, protecting both their clients’ money and their own profits. Investments fallingMalcolm Davies is a probably a typical investor. At 65 he is still working, in an advertising agency.
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