Profits before tax fell at Hargreaves Lansdown for the second half of last year, the company reported today.
However, there was a big rise in the number of new clients and assets also increased at the Bristol based firm, which has 100 advisers across the country.
There was a drop in the profit before tax of 2% to £101.9 million from £104.1m in the first half of the year.
Revenue was improved by additional clients, assets and growth in the multi-manager funds.
Net new assets added during the period were £2.25 billion. This decreased from £2.8 billion in the first half of the year but has taken total Assets Under Administration to £49.1 billion.
Some 23,000 new clients were welcomed during the period, taking the total to 675,000.

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Regarding profit growth, the firm said it has lagged behind the growth in assets under administration due to interest rates continuing to reduce across the savings and investment industry, including that received by Hargreaves Lansdown combined with the reduced revenue on funds.
Ian Gorham, the firm's chief executive, said: "We are pleased that Hargreaves Lansdown's results once again show substantial growth in new clients and assets, during a muted six months for stock markets and retail investing.
"The corresponding period last year enjoyed the dual boost of both rising stock markets and interest created by the Royal Mail Share offer. New asset and client growth has remained excellent, even without these important stimuli this year.
"Profit before tax fell 2% to £101.9 million (H1 2014: £104.1m). Revenue was improved by additional clients, assets and growth in our multi-manager funds.
"This growth was tempered by the effect of lower interest rates on client cash and reduced revenue on client fund assets held on the Vantage platform as a result of the reduced charges for clients introduced in March 2014.
"As expected these factors have had a short-term impact on profit growth. The impact from lower interest rates will continue for the rest of the 2015 financial year. The impact of the new fund charges will annualise in March 2015. The 2016 financial year will therefore see the comparative effect of these factors abate."
The company also revealed data about its digital services, which showed that during the six months its website and apps were visited 36.7 million times - up 14% on the same period in 2013.
The HL Live apps for iPad, iPhone and Android mobile have been downloaded 300,000 times since launch.