Curtis Banks has begun trading on AIM, with a market capitalisation of £85m.
The Sipp provider announced last month it was planning to float on AIM.
It has raised £7.5m through the conditional placing of 3.9 million new ordinary shares at a price of 190p per share.
Selling shareholders have agreed to sell 7.3 million ordinary shares at the placing price.
The sale shares and new ordinary shares make up 25 per cent of the enlarged share capital of the company.