Shares in Hargreaves Lansdown were up on the FTSE 250 in morning trading following news that one of its founders and current Non-Executive Directors, Stephen Lansdown had sold off 13 million of his shares in the company.

In total Mr Lansdown sold 13,560,843 ordinary shares, representing 2.86 of total ordinary shares in issue, at a price of 429 pence per share, making for a sale worth a total of £58 million.

Mr Lansdown still holds 95.5 million shares in the company, representing 20.1 per cent of total shares in issue.

By 11:00 shares in Hargreaves Lansdown were up 0.22 per cent to 453.00 pence per share.