As of 31 October 2016, the wealth manager had AUI of £2.1bn, up from £1.2bn at the same point in a year earlier. Revenue was up 47% for the year to £11.6m from £7.9m, while adjusted EBITDA was up 42% to £2.7m.
The sharp rise in assets was driven by a string of some 17 acquisitions completed during the year, for a total cost of £11.7m.
The firm appears to be staying on the acquisition trail this year, saying it expects there to be “numerous potential targets” for it to pursue.
The company also launched its own investment platform in partnership with AJ Bell during the last year.
Chairman Peter Mann said: “I am delighted to be able to report our maiden set of results since our successful IPO on AIM at the end of March last year. It has only been 10 months since we listed and we have made considerable progress, as demonstrated by this strong set of results. We listed in order to be able to access capital to facilitate the next stage of our development through acquisitions and it is extremely pleasing to be able to report that we completed 17 acquisitions during the period.”
“The various political and macro events of 2016 highlight the need for good quality financial planning which presents us with a fantastic opportunity to grow our business,” he added. “This, coupled with the various structural changes that have been taking place within our industry which result in a numerous potential acquisition targets, leaves us looking to the future with confidence.”
