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Financial planning boom boosts Jelf earnings

A surge in pre-tax earnings in Jelf’s financial planning business has helped grow the firm’s revenue by 11 per cent, its interim results show.

Pre-tax earnings grew 167 per cent year-on-year in the six months to April in the advisory business, from £112,000 in 2014 to £299,000 this year.

The employee benefits division saw earnings increase 27 per cent, from £1.4m to £1.7m.

Pre-tax earnings grew 18 per cent in the firm’s insurance business, up to £5.3m from £4.4m last year.

Group revenues are up 11 per cent in the first half of the year to £43.7m, compared to £39.3m in 2014.

Group chief executive Alex Alway says: “We’ve tried to position the financial planning business alongside our bigger employee benefits business. We see an opportunity to provide workplace advice to employees in the firm where we offer employee benefits and insurance services.

“We’ve seen a significant increase in leads into the advice business. For instance, we run 440 courses for retirees providing holistic advice, from that we’re getting enquiries from people typically a couple of years away from retirement who are looking to plan their future.”

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