Hargreaves Lansdown, a UK private client investment management and stockbroking firm, is to list on the London Stock Exchange via a May 2007 IPO. Peter Hargreaves and Stephen Lansdown started the firm in 1981; it currently provides about 350,000 clients with advisory, stockbroking, wrap and discretionary asset management services. Vantage, its wrap platform, currently has over £7 billion ($14 billion) of client assets under administration. In addition it has £1 billion of client assets under discretionary management. The firm has also released interim results for the six months to 31 December 2006. Underlying group profits increased by 35 per cent to £43.3 million from £32.2 million for the six months to the end of December 2005. Twenty-five per cent of the existing shareholder capital will be available for sale; the executive directors and senior managers are all committing to hold their remaining shares for four years from admission.