Published by parent company IFG Group on 12 May, the report revealed Saunderson’s intent to develop a discretionary offering to complement its current range as the firm seeks to expand its client base.
In addition to the new discretionary service, Saunderson announced the opening of an online portal by the end of the year to enhance its existing advisory offering.
The plans come alongside the wealth manager’s assets under administration increasing by £200m in Q1 2015, rising from £3.7bn to £3.9bn, off the back of 93 new clients joining the firm’s services.
IFG’s other business, SIPP provider James Hay, saw the addition of 2,622 SIPPs lead to AUA growth of £900m to £17.3bn, taking the group’s total AUA to £21.2bn.
Paul McNamara, IFG Group chief executive, said: “IFG is strongly positioned with two profitable businesses in attractive markets and has a strong liquid balance sheet to support further growth and investment.”
