In the six months to 30 September 2017, the group’s revenue increased by 16.7% to £15.4m from £13.2m last year. Its investment management arm alone brought in £14.2m over the period, off the back of “strong increases in portfolio management fee revenues.”
Discretionary and advisory assets under management and administration (AUMA) increased to £5.3bn, up from the £4.8bn the year before.
On the wealth management side, AUMA has risen by £18m since 31 March 2017, bringing the total to £532m.
The firm added that it has seen a 7% increase in turnover in its wealth management division, as a result of its drive to recruit new clients and further invest in its research capabilities and in-house resources.
However, the interim dividend and non-broking income as a percentage of the total income both remained steady, with £0.58p per share and 62%.
David Gelber, the firm’s chairman said: “I am very pleased to report on an encouraging period for the group where our focus on the delivery of quality personal investment advice and strong investment management capability has helped the group increase AUMA, revenue and profit.
However, he added: “We remain cautious about the short-term outlook, due to ongoing political and market uncertainty but believe that in this climate the quality of the advice and support we provide our customers will continue to prove important.”
The firm’s share price has gone up 20.7% year to date and is now trading at £0.47 per share.
