Advice firm Bradbury Hamilton has posted a pre-tax profit of £290,000 to September 2013 as it reveals acquisition plans targeting the Midlands area this year.
The firm made a pre-tax profit of £24,365 in the previous year.
Turnover is up 42 per cent up from £1.58m to £2.25m.
Bradbury Hamilton managing director Sheriar Bradbury says: “We are thrilled to report such robust figures for the year. Bradbury Hamilton’s performance over the course of the 12 months reflects the solid progress we have made towards growing the business.
“We continue to work hard to provide clients with high quality, consistent and comprehensive advice and would like to thank them for their unwavering support and recommendations.”
The firm made seven acquisitions in 2013 and says it is seeking up to three acquisitions this year.
Bradbury adds. “We are based mainly in the South East and have a presence in the Manchester area but we are looking to acquire in the Midlands. We are buying client banks and we may keep the staff, although in many cases we have not.
“For the outgoing IFA, we are looking to get them to buy into what we are trying to do, which is retain the income stream through client agreed remuneration.”
Bradbury Hamilton’s acquisitions are typically based on a 50 per cent upfront payment with the remainder based on future revenues generated from acquired clients.