View more on these topics

Clarkson Hill profits down 44% but confident of its model

Clarkson Hill says increased turnover and growth in adviser numbers demonstrates a solid business model, despite reporting a 44 per cent fall in pre-tax profits.

The latest figures show a fall in profits from £11,591 for the same period last year compared to £6,439 per cent this year, for the six months from August 1, 2007 to January 31, 2008.

Clarkson Hill says the fall in profits is likely due to administration expenses, which increased from £1.726m to £1.788m for the same periods.

The Aim-listed national IFA has seen its turnover rise 26 per cent from £8.476m to £10.681m and adviser numbers have increased 17 per cent, from 303 last year to 354 in January.

The group, currently with around £874m funds under management while Clarkson Hill continues to develop plans to implement its assets under advice strategy.

Clarkson Hill chief executive Ron Pritchard says: “Our latest results prove that our model is successful and sustainable, despite how challenging the current economic climate can be for any growing business. We will continue to focus on the recruitment of qualified and quality financial advisers to further increase funds under management and improve profitability.”

Recommended

Majority decisions

Iwas chatting to a good friend of mine who happens to be a long-standing IFA. Over the last 20 years or so, he has built up a business looking after the finances of many high-earning professionals and entrepreneurs.

Chaser understands issues better than FOS

In response to last week’s article on claim-chasers moving into whole of life, I must stress that your editorial line is one-sided and not representative of the true picture.

Hard times

With property prices falling in some areas, you would think that there was an opportunity for struggling first-time buyers trying to get on the housing ladder. Unfortunately, while prices may become more affordable, the rapidly diminishing number of high loan to value mortgages means the majority of first-time buyers will not be able to take advantage of this situation.

Artemis Global Income: Making sense of global markets

The rally in cyclical ‘value’ stocks paused for breath in February, as investors took a more cautious tone and switched their attention back to defensive areas. In this article, Jacob de Tusch-Lec, manager of the Artemis Global Income Fund, explains how he has positioned the portfolio, given the many economic, geopolitical and policy risks that […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment