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Bestinvest see profits up 71 per cent

Bestinvest brokers latest results has revealed a 71 per cent increase in pre-tax profits to over 6m.

The statement for the year to May 31 2006 also shows an annual increase in earnings per share to 58 per cent and a turnover increase of 59 per cent.

Bestinvest chief executive John Spiers says: “This was the first complete accounting year since our acquisition of SMA in late 2004. They confirm the benefits of that acquisition and the popularity of our proposition to clients.”

“Unlike most other firms in this industry, we are remunerated primarily based on the value of clients assets not to the level of transactions. This helps us align our interests with our clients and provides no incentive for us to encourage them to switch investments unnecessarily.”

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