The number of staff employed by Hargreaves Lansdown increased to nearly 1,000 by the end of 2015, the company reported this morning, as it revealed a 'record' level of assets under management.

Staff costs increased by £4.8m or 19% on the comparative half-year but AUM was up 7% since 30 June to £58.8 billion. Active client numbers grew to 783,000, which was an increase of 47,000 since 30 June.

As of 31 December it employed 985 staff. The firm said employee costs increased due to developing a new digital cash deposit service - HL savings - and a P2P platform due for launch in the autumn.

Additional staff for this cost an extra £1.5m, while digital and IT workers and one off restricting set it back another £1m in total.

Share option costs were an additional £0.4m and other staff cost increases were £1.9m.

The average number of staff, which included full-time equivalents, including directors, during the six months ending 31 December was 964 compared to 881 in the first half of the year. The full year average was 910.

The financial report stated: “Staff numbers and costs have increased in line with our strategic plans and our commitment to delivering a first rate service to our growing client base.

“HL Savings, our planned new cash deposit service, supported by a new marketplace lending (peer to peer) service remains on track with a target launch date of Autumn 2016. We continue to believe these services can be delivered without recourse to a banking licence.

“Following the success of the three multi-manager fund launches last year we intend to launch a further two new multi-manager funds later this year, a HL Strategic Assets fund and a HL High Income fund.”

The interim six-month results showed strong net new business inflows for the 6 months of £2.77 billion, up by 23% from £2.25bn.

Net revenue up 10% and profit before tax up 6% on H1 2015.

Ian Gorham, the Bristol firm’s chief executive, said: "Against a backdrop of fluctuating stock markets, Hargreaves Lansdown has continued to be the most popular destination for UK retail investors, with excellent new business for the period.

“In particular the pension freedoms continue to attract huge interest as we prepare for the important tax year-end period."