I'm on the Remuneration Committee. I'd like to also welcome those of you that are listening by phone. Let me just go through a couple of housekeeping before we turn to the formal business of the meeting. I'd like to mention a few housekeeping points. In the unlikely event of a fire, it's real, so please make your way to the back of the lobby and out the main doors to the assembly point across the road. Fire marshals will be on hand to guide you. Time is now 11:00 A.M., and as a proper notice of the meeting has been given and we have a quorum present, the meeting is duly convened and may proceed to business. It's my pleasure to introduce my board colleagues to you. Details of each of the directors' skills and experience can be found on our website and in our annual report, as well as the notice of the meeting. First, let me introduce to my left, Chris Hill, our CEO. Chris has been with HL since 2016, first as CFO and then as CEO. Now, many of you may have seen the announcement that was released on Monday morning that Chris, after six years with HL, has announced his decision to retire. The board supports this decision. A search is well underway for his successor, and Chris is very committed in his usual professional way to have a thorough and effective handover. There's going to be many opportunities to thank Chris, but I can't let this moment go without recognizing a few of his contributions to HL. He's overseen significant growth during his tenure and despite several challenges, the pandemic and others coming along. His customer numbers have more than doubled from 836,000 when he came in 2016 to 1.7 million at the end of 2022. Assets under administration went from, again, a doubling from GBP 61.7 billion in 2016 to GBP 123.8 billion in 2022. Market share increased from 35% to 41.7%. Now, to ensure that HL continues its leading position, we announced a clear strategy that Chris led. He has successfully executed on the first phase of that strategy. Chris has looked at a great career and said, "Maybe now is the time to hand over and to pass the baton to another CEO to take it up from here to drive that strategic execution through to completion while he maybe gets a little more time with his family and on his beloved sailing." Chris has significantly refreshed the executive team and bringing in new and strengthened exco team with the right skills, experience, and capabilities to execute on that strategy. The board fully supports the strategy and this team to fulfill the potential for HL that was outlined last winter. As part of that new team, next, I'd like to introduce Amy Stirling. Amy is our CFO, and she joined us in February of this year. She's attending her first AGM with us. Amy's off to an incredibly strong and fast start and is contributing strongly not only as the CFO but as a board director. Moving on, I'd like to introduce our non-executive directors, starting with Dan Olley, and if you can kind of raise your hand, Dan, so we can see you. He's an independent non-executive director. Dan is a member of the Risk and Remuneration Committee and has been a board member since 2019. Roger Perkin, who has been with us since September of 2017. Roger is also an independent non-executive director and chair of the Audit Committee. He is a member of the Risk and Nominations Committee. John Triantos, independent, non-executive director. John is a member of the Risk and Audit Committees, as well as being appointed as a member this year of the Remuneration Committee. John joined the board in January of 2020. He also is an independent non-executive director on our subsidiary board. Andrea Blance joined us in September 2020 as an independent non-executive director. Andrea chairs the Risk Committee, and she is also a member of the Audit and Nominations Committee. Moni Mannings, who joined us in September 2020, is an independent non-executive director and chair of the Remuneration Committee. Moni is also a member of the Nomination and Risk Committee. Adrian Collins is a non-independent non-executive director who was appointed to the board in November 2020 as Peter Hargreaves's designated shareholder representative. Finally, Penny James, Independent Non-Executive Director and Senior Independent Director. Penny joined the board in September 2021, and she is a member of the Nomination and Risk Committee. Finally, Darren Pope, who is our newest member. Just joining us in 1st of September as an independent non-executive director and as audit committee chair designate. I'd like to thank all of my fellow board members for their time and commitment during HL this year. In attendance today also, I'm pleased to welcome our representatives from the company's auditors, PwC, by phone, and from the company solicitors, Freshfields, Marc Rossi is here in person. A representative from the company's registrar, Equiniti, is also here to ensure we follow the proper procedure with regard to attendance and voting. The company issued its report and financial statement in August and a trading update on Monday, copies of which are available on the company's website. Before we start the formal business, I would like to hand over to Chris, who will provide an update on trading from our trading update released on Monday. Chris, over to you. Thank you, Deanna. Good morning, everyone. I, Chris Hill, Chief Executive. We shared our strategy at the Capital Markets Day in February. Since then, we've been absolutely focused on delivering, doing as we said that we would do. We've set out clear plans to transform the experience that clients have when they manage their money, combining the best of human expertise that's underpinned by the brilliance of our colleagues and augmenting it with the supercharged use of data and technology to deliver a uniquely personalized service that's easier and more intuitive. We remain disciplined in our investment across five strategic pillars. We provide a broad and best-in-class offering, all of which I shall come on to. The backdrop has been challenging, with multiple macroeconomic challenges this year. This is not specific to HL, it's across the industry. What's essential to remember is that we've been through periods of market turbulence and fluctuating investor confidence many times before, and we've always maintained our strong organic growth record throughout these moments. In fact, our diversified nature has meant we continue to deliver shareholder value through the most recent turbulence, as shown in our Q1 statement on Monday. As with previous events, we will come out of this macro environment stronger because we are confident in our purpose, confident in our proposition and our service, and also the ever-expanding tools that we provide to clients to manage their finances. We've also learned that our commitment to helping our clients during these periods increases their loyalty to us. This year is no different, where we have added 92,000 new clients, GBP 5.5 billion of net new business and maintained our strong 92.1% client retention rate. There is no doubt that 2022 is a year of uncertainty. In the summer, we launched the second edition of our Savings and Resilience Barometer. We recognize that learning how to build financial resilience matters more than ever. The July edition shows that real disposable income has fallen and will remain stagnant. 41% of households are dipping into reserves or debts just to tread water. Lockdown resilience gains are set to be wiped out by high inflation and higher interest rates in the year ahead. Finally, inequality will continue to rise. The resilience hit on the poorest 40% is three times greater than that of the richest 20%. We know that the broader cost of living crisis will compound the inequality in financial resilience. Importantly, what does this mean for our clients? Well, we need to be able to help them be as smart as possible with their money wherever they are in their financial journey. They need an ever more personalized service, so we provide nudges and targeted relevant communications. They need to do the right thing with their cash, liquidity, investments and income utilizing our diversified platform to actively manage both their cash savings to get market-leading rates and using our tools and insights to manage diversified funds and share investments, taking full advantage of their tax efficient wrappers. Their tax efficient savings offers, with more clients than ever using these wrappers over tax year-end, and investing for the long term to get the financial outcomes that are right for them. We need to continue to offer the best digital service with tools, calculators, and our mobile app. We are building our clients' ability to invest and save with confidence, and we are doing that by providing them the right information and guidance at the right time. We do that through the powerful combination of our trusted brand with its broad savings and investment offering, our leading digital service, coupled with our renowned high-quality client support and extensive range of research, insights, guides, and tools. Let me take you through what I mean with a little bit more detail. This is how we've driven improvements in 2022. First, we invest in the brand and reputation because awareness and trust are important for new and existing clients. They stimulate attention and engagement. Our latest Switch Your Money ON campaign has seen us outrank the competition on first choice brand consideration, usage, and awareness throughout our Kantar metrics. Platforum have also recognized us as the number one for D2C brand awareness. Second, we invest in our digital capability because that's how our clients want to interact with us. We had over 290 million digital visits in the year, compared with about 100 million when I first took over as CEO. 61% of our digitally active clients have used the mobile app, and this number is growing. We had 100,000 listens to our Switch Your Money ON podcast. We've sent nudges to 590,000 clients on diversification, cash levels, and risk. Clients want to know more, so we've expanded what we offer, leading to a 98% increase in visits to our HL Learn webpage for educational insights. 260,000 guides have been downloaded, building people's knowledge and confidence. We're delighted that this investment in new digital services is paying off. We were rated number one by Platforum for investor digital experience. Third, we have the broadest offering in the UK. There are more than 10,000 funds and shares available to invest in. We have a full product offering with all the wrappers. Our cash service, Active Savings, which we presently introduced in 2018, has now been offering market-leading savings rates for over 80% of the year. We use our scale to enable discounts for clients on funds. We are especially proud that our clients recognize our focus on service. Client service NPS in the year hit its highest level since 2019. Our Trustpilot scores are excellent. Boring Money have recognized us for customer service, Best Buy ISA, Best Buy SIPP, and The Times Money Mentor with Gold for customer experience. Our retention levels have improved, and we've done all of this with almost another 500,000 clients compared to before the pandemic. It's very clear that one area that increasingly matters to consumers are environmental, social, and governance factors. This aligns with HL's own focus. Responsible practices underpin our ability to empower people to save and invest with confidence. Over 2022, we made significant progress across three priority areas, building our position as a responsible business, a responsible investment and savings provider, and a responsible fund manager. We've continued to build out our Savings and Resilience Barometer to support both individuals and policymakers in making decisions on financial resilience. We expanded our ESG insights and the offering available through our platform, launching our responsible investment hub and creating an ESG team. We have a clear commitment to ESG investment over the long term. Each new fund that we launch is Article 8 compliant. We began this journey with the ESG Integrated HL Growth Fund, which was launched earlier this year. We are committed to enhancing our responsible practices and our ESG offer. Given the clear guidance that we provided at our 2022 Capital Markets Day, our financial performance was in line with expectations, taking into account the challenging conditions over the period. We delivered revenue of GBP 583 million. This was lower than the prior year, but as expected, given the trend of strong trading volumes driven by the pandemic and some normalization after the lockdowns in the previous two years. Underlying costs at GBP 284.7 million were up 7% in the year. However, below expectations reflecting both lower client-driven activity in H2 and a focus on cost control across the business. We're executing against our strategic priorities, and therefore, our total cost of GBP 313 million includes GBP 28.3 million of strategic spend, leading to GBP 269.2 million of statutory PBT. The total dividend for the full year is GBP 59.7 pence, in line with the updated guidance that we gave earlier in the year of 3% annual growth through to FY 2024. We are ambitious about our long-term potential. Today, we're already targeting a 3 trillion addressable market in UK savings and investments, which we expect will rise to 4 trillion by 2026 and will keep growing from there. We will also benefit from the broader secular shifts that are driving more people to take control of their savings and investments. Our market is only growing and the opportunity is even bigger. While consumers also want and expect more from their providers, our clients no longer compare us to wealth managers or other financial services companies, but to the customer experiences offered by Amazon and Netflix and others. That means it is essential that our digital channels continue to evolve. Our strategy is anchored in these long-term changes that we see. We have a clear focus on five strategic pillars, accelerating growth via our integrated proposition, creating a step change in client service and efficiency, developing our digital backbone and enabling our people, strengthening our culture and scaling our foundations. In practice, this means driving growth through our leading digital experience, reinforcing our position as the UK's number one for investor experience, using technology to build ever more personalized services alongside a platform that remains resilient as we continue to scale. Maintaining our focus on client service standards for more efficient payment methods, for quicker processing, to smoother transfers. Developing an extensive and comprehensive proposition through new funds and investment solutions, our augmented advice proposition, and an enhanced active savings proposition. We've made a good start. We've got clear plans to continue delivering in 2023. I'll take you through what we've done this year and our focus for next year. In 2022, we focused on setting the foundation and the partnerships that will drive our success while also expanding our offer. We launched the HL Growth Fund as the default multi-asset fund for the SIPP, now integrated into the workplace journey, and we've seen encouraging levels of engagement from clients with higher than expected opt-ins at GBP 113 million of flows. We've also added to our ETF and ESG research capabilities. We partnered with some key players, services with whom we are developing a cloud-based service platform that enables us to simplify how we work using data automation and routing client contacts to the right areas of expertise first time and at speed. We've also signed contracts with industry leaders ForgeRock and Kore to support our development of enhanced identity and authentication solutions and building our ability to scale. We launched a new retail offer service, enabling retail investors to access IPOs and secondary fundraising, a key area where retail investors lack the tools to engage. We've also welcomed some significant hires, including in advice, where our new Advice Director, Richard Caldicott, started earlier this month, joining from M&G Wealth, where he was deputy CEO. Alongside him into service, Ruchira Mehrotra, who joined us in August as our Omni-Channel Director. Ruchira will play a key role in the execution of our service and efficiency program, incorporating the latest technology to deliver cost savings and service improvements. We've added significant capability to the team with a focus on key areas for delivery of our strategic priorities, including risk management, fund management, and digital technology. All of that follows on from the executive changes that we previously announced to strengthen the team with Thierry and Amanda's skills in digital and transformation. Robert, people. Claire, legal and CoSec, and Amy here as CFO. People with proven experience with the skills that we need to deliver our strategy. The strong momentum continues into 2023, when we expect to launch the new HL funds, including the U.S. fund due to launch on the first of November. We'll see the pilot of an augmented advice tool at the end of the year, and we're going to deliver significant cost savings in the year ahead through automation, productivity improvements, and vendor management. We'll further centralize how we manage and establish digital identity to create personalized experience. As I said earlier, we are delivering successfully against the plan that we outlined in February. The five pillars that I outlined are at the heart of how we measure progress, all of them interlink. We've got a clear set of measures that we're using to ensure disciplined investment and to measure our progress. We can all appreciate the uncertain times that we face from economic and geopolitical turbulence in the short term. This challenging environment has impacted three key business drivers which are outside of our control. Market movements, with the FTSE All-Share down 6% and the S&P down 20% in the six months to June 2022. Obviously, by definition, impacts asset values and finally consumer confidence, which is at its lowest level since the financial crisis and has had a known impact on investor confidence. Our internal tracking shows that this is now at one of the lowest levels that we have seen in many years. However, this is a huge opportunity for HL. We are the market leader, and we know, having navigated previous such conditions, that number one, things will improve. Number two, we have supported clients through similar events and uncertain periods over many, many years, and each time we have come through stronger. Nothing has changed that impacts the strategy that we announced in February. As we are a long-term business and are focused on ensuring that we make the most of the opportunities from these long-term trends, this strategy will deliver outstanding client service, strong growth and returns, and continued market leadership for HL. The only thing that has changed as a direct consequence of this environment is that our visibility on whether the timing of delivery of our targets has been impacted, and that will be influenced by when we have greater visibility on normalization in markets and related investor confidence as we outlined at the time of the Capital Markets Day. In the meantime, we're focusing on factors that we can control, which include the execution that we've set out and the timeframe for which we have the best visibility. Of course, as we look at the outlook ahead, you will have seen Monday's announcement about my decision to stand down after six years in the role. As I've shown here, we have strong foundations in place from delivering against the strategy that we outlined in February with a strengthened executive team in place. We are on track. Continued delivery in 2023 with the imminent U.S. funds launch, the pilot of augmented advice tools, the strong performance of Active Savings, and continued development to our digital backbone. This is therefore the right time to announce my plan and ensure a smooth transition. I am proud of my track record as CEO. We have more than doubled our number of clients and assets under management from 836,000 to 1.7 million, from GBP 61.7 billion to GBP 123.1 billion, with direct market share increasing from 35.9% to 42%, and stockbroking market share increasing from 27% to 38%, alongside a seismic shift to digital engagement with 290 million digital visits this year compared to 106 million when I started in 2016. It is a privilege to work with so many outstanding people. In summary, a year of good progress and execution. We have disciplined investment into 2023, and as we manage through the short-term turbulence, our eyes are firmly on the significant medium and long-term opportunities for HL. Thank you. Thank you. Now we are going to turn over to the formal proceedings of this annual general meeting. The notice of the meeting, together with the explanatory notes, were posted to shareholders at the beginning of September. Accordingly, the requisite notice of the meeting has been given. I propose, therefore, that we, with your consent, that we can agree that the notice of the meeting as read. Great. Very good. Now let's go to the resolution. We're going to propose that we go to the vote on the resolutions which I formally proposed to the meeting. The full text of which each of the resolutions is set out again in the notice of the meeting and, you will have received that. They are Directors' report and audited accounts. Number two, to approve the final dividend. Three, to approve the directors' remuneration report. 4, reappointment of the auditors. 5, to authorize the directors to determine the remuneration of the auditors. 6, the re-election of myself. 7, the re-election of Chris. 8, the election of Amy Stirling. 9, the re-election of Dan Olley. 10, the re-election of Roger Perkin. 11, the re-election of John Triantos. 12, the re-election of Andrea Blance. 13, the re-election of Moni Mannings. 14, the re-election of Adrian Collins. 15, the re-election of Penny James. 16, the election of Darren Pope. 17, to authorize the company to purchase its own shares. 18, to authorize the directors to allot shares. 19, to disapply statutory pre-emption rights. 20, to approve short notice for general meetings. Now, resolutions 1 through 16 and number 18 are proposed as ordinary resolutions and require a simple majority to be passed. Resolutions 17, 19, and 20 are proposed as special resolutions and will require a majority of 75% to vote in favor of the resolution for each of those three to be passed. We'll now conduct the poll on each of the resolutions, and I'm appointing Trinity, the company's registrar, to act as scrutineer. Earlier today, when you registered your attendance, you would have been given a poll card, which shareholders and proxies for shareholders should complete by placing a cross in the appropriate box next to the applicable resolution and sign as indicated. In the case of corporate shareholders, the poll card should be completed by their authorized representative present at this meeting or by their proxy. You have three options for each resolution. You can vote for the resolution, vote against the resolution, or withhold your vote. You're aware, a vote withheld is not a vote in law and will not be counted in the calculation of the proportion of the votes for or against a resolution. I should mention that for those shareholders need to complete a poll card unless you would prefer to change your vote. Can I ask that you please return your completed poll cards to the Equiniti, our registrars, as you exit the room? The poll will be open for 10 additional minutes after the meeting ends. If you require any further assistance, the Equiniti is there, right there in the back of the room to help you. The results of the poll, including the proxy votes already received with respect to the resolution, will be announced through our regulatory information service and posted on the company's website as soon as practicable. All right. Now, with your permission, I'd like to proceed with questions by noting that we've already received one question written in advance from a shareholder relating to voluntary reporting of ethnicity pay gaps. The question has been responded to by our company secretariat team, and we're happy to share this if it's helpful to others. Further information is also available in the annual report on our approach to diversity and inclusion, and that can be found within the annual report on pages 28 to 29. Okay. Now, if there are additional questions in the room dealing with the resolutions or any matter of the business, we would like to take those now. Any questions? Yes. Could you please state your name, and if you're representing anyone, who that would be? Okay. Good morning. There we go. Good morning. My name is Andrew McElligott, and here as an appointed representative on behalf of ShareAction. I want to ask you about your policies relating to insecurity of work, particularly for lower paid employees and contract workers. I'm delighted that Hargreaves Lansdown is an accredited living wage employer. This is one of the most important steps an employer can take to alleviate in-work poverty. However, the number of hours worked and the security of those hours can affect the amount of pay the employee takes home. The Living Hours standard established by the Living Wage Foundation provides living wage employers with the opportunity to go further and provide staff with security and stability. Living Hours accredited employers commit to providing workers with at least four weeks' notice of guaranteed shifts or canceling within this notice period, a guaranteed minimum of 16 hours a week, and the right to a contract that reflects actual hours worked. Last year, you told us that everyone at Hargreaves Lansdown is employed on a full-time contract. You can now take the extra step and accredit for Living Hours standards, ensuring everyone working at your company has the security and stability, and showing yourself a leader in this area. Please could the board give an overview of Hargreaves Lansdown's current practices in comparison to the stated measures? Has there been any progress towards meeting the accreditation standards of a Living Hours employer? Will Hargreaves Lansdown be a leader and become an early adopter of the standard? Thank you. Great. Thank you very much for your question. What we are doing is very, very committed to a number of different things that we are doing for our colleagues. We have here Claire Chapman, who is our both our general counsel and also is our company secretary, who can give a detailed discussion on after the meeting or would also be very available to meet with you for the additional information that you'd like. We're very, very committed to employees and have done a number of things to tide them through this time. Chris, anything you'd want to add to that? No. I think if you would follow up with Claire, that's the right thing to do. There are a number of questions within that we can respond appropriately. Any other questions? Hi. It's Alan. It's an individual shareholder. I've heard the picture that you painted, Deanna, about how Chris has done a fantastic job. Actually heard it from the horse's mouth, Chris saying what a fantastic job he has done. I also sort of hear you saying about smart investing and responsible investing. I wake up on Monday morning and I read the news, I see Hargreaves could be on the hook for potentially GBP 100 million with the Woodford debacle. There's no mention of that here today. I haven't looked through the accounts, but is there some sort of reserve you've put back to pay any bills like that? Or I just wonder, what happens with the NED on the board? Because it seems as though Hargreaves themselves there were asleep when all that was going on. The panel to try and monitor those issues, you couldn't remove them from the panel. Why was it that it took so long to remove them? Was that ultimately Chris, or was that the non-executive director not pushing enough? Or what was it? Because you've got a longstanding NED who is responsible for risk. You know who I'm saying, and I can see you there. What happens about that? What are the potential effects of Woodford? Thank you very much for that question, Mr. Hibbert. As you know, Woodford actually happened several years ago, and we have talked a great deal since then of the number of different things we've done with people, with processes, with how we have gone through and took a very soul-searching view of what actions we would put in place and have done that. Many of that is, as you point out, new Neds that are on the boards with new responsibilities and expertise that have brought to that. On the lawsuit itself, let me say we've read the same press reports. We don't have a service of the lawsuit, so there's nothing more that we can comment on at that particular time. We feel very deeply sorry for anything that has happened during that Woodford period, and we have taken great pains in the company to correct everything that we can do since then. That's what I would say from my perspective. Chris, anything else you'd like to add on to that? Yeah. Well, I think it's important to emphasize that we've obviously seen the media reports, but we are not yet in receipt of a claim. Therefore, what you might read in the papers is being put out there rather than being backed up by a claim which we've not received, as yet. Obviously, if a claim is received, we will defend our position on this issue in a way that's consistent with our legal and regulatory obligations. I didn't expect an answer. That's why. Thank you very much. Any other questions? The first part of the agenda. Sorry. My My name is Martin Gladdish. I represent Chelverton UK Dividend Trust, and it's been going for 25 years. Excuse me. You know, you answered Benjamin's question, but you didn't answer the first part, which was, Have you got anything in place to cover this vast sum of money if you lose the insurance policy of any sort? First, we do not have a claim. I know you haven't got a claim yet, but have you got any insurance to cover the losses? Well, I'm gonna let Amy talk about our liquidity position, and that would be on that front. Thank you for your question. You will have seen from our annual report that Hargreaves Lansdown has a very strong balance sheet. We have a significant capital surplus in excess of GBP 160 million. We have no debt in the business at all, and we have over GBP 500 million of liquidity. I think we can be very confident that Hargreaves Lansdown is a very solid business. We're in really strong financial health. Thank you. Thank you. Any other questions? Excellent. All right. If not, then, I think what we will do is, we will proceed, to the conclusion of the formal business meeting. I thank you for your interest and for your attention. We declare the meeting closed. Please join us for tea, for coffee, at the back of the room. Thank you.