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Helm Godfrey profits up 54 per cent

National IFA Helm Godfrey has announced a 54 per cent annual increase in pre-tax profits from £403,000 to £620,000.

Turnover was up 45 per cent to £5.8m from £4m in 2005.

The annual results to December 31, 2006 were announced this week, with Helm Godfrey saying the profits are being reinvested into the business and set aside for further acquisitions, following on from its purchase of gay specialist IFA Fresh Finance in August 2006.

It currently employs 34 advisers.

Managing director Bruce Wilson attributes the success down to a strong, focused management, highly qualified client-centric advisers and a focus on profitability rather than turnover.

Wilson says: “The key to our success in 2006 was our continued focus on our clients and putting profitability ahead of turnover – something the IFA sector has been extremely bad at doing. It is only by placing profit at the heart of the business that we have been able to invest in the business in the way we have – acquiring other IFA firms and investing in the Nucleus wrap.”

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