Net new business in Hargreaves Lansdown’s Sipp nominee accounts was £1.2 billion for the last six months of 2015.

The company reported this morning that Vantage Sipp net new business went up 73% over the second half of the year.

The Bristol firm said its direct to investor investment service administers over £58 billion of investments in ISA, Sipp and Investment accounts for 783,000 active clients.

The financial results report stated today: “New pension freedoms have proven particularly attractive to clients, with Vantage Sipp net new business up 73% over the six months.

“Net new business in the Vantage ISA, Sipp and other Vantage nominee accounts was £0.7 billion, £1.2 billion and £0.8 billion respectively (compared to £0.8bn, £0.7bn, £0.7bn for half one).

“New business was helped by new assets from 47,000 net new Vantage clients combined with new subscriptions and transfer business from existing clients.

“Following the implementation of the pension freedoms in April 2015 inflows of pension assets have been significant. The average new contribution into a Vantage Sipp so far this year has increased by 13%, with 25% more clients contributing to their Sipp than in H1 2015.

“By comparison, the average subscription in the Vantage Stocks and Shares ISA has decreased by 6%, with a 12% decrease in the number of clients subscribing.”

As of 31 December, the value of assets within the Vantage Sipp was £17.6 billion – rising from £16.4bn in June.

The number of staff the firm employed increased to nearly 1,000 by the end of 2015, the company also reported, along with a record level of assets under management.

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 autumn 2016.

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.