Gorham aims to double Hargreaves Lansdown advisers

Ian Gorham, the chief executive of Hargreaves Lansdown, says he would like the firm to double its adviser numbers from 60 to 120.

Gorham has set no timeframe on the increase but says he would prefer it to be organic rather than through acquisitions. He says: “The key is to ensure we add good quality people and we are looking at the likes of graduates.

“We would not rule out adding aggressively through acquisitions but growing organically removes the liabilities. With an acquisition, you get some good people but you also get some stuff you have no control over from the past.”

The firm has yet to commit to retaining its independent status after the RDR.

Hargreaves Lansdown announced Isa contributions on its Vantage fund platform jumped by 34% in the year to April 5 compared with 2010. The group’s interim management statement shows that gross Isa sales hit £1.089 billion in the full tax year, up from £812m.