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IN Partnership’s technological strategy sees it reap in more than 1m in profits

IN Partnership has seen ann-ual profits soar from 10,000 last year to more than 1m this year and is warning that older networks might struggle in an increasingly technological environment.

The Horsham-based network has focused its strategy on IT giving it net profits of 1.067m to June 30 year-end.

Currently with 200 firms and 500 RIs, it aims to reinvest profits into electronics and scanning equipment, opening two offsite back-up facilities to maximise risk reduction.

Group chief executive Kevin McDonagh says older, bigger networks less comfortable with technology might suffer in the increasingly electronic environment because of the high costs to change their ways of working.

McDonagh says: “It is early days yet but we are confident IFAs will see an impact in the foreseeable future. We have made more than 1m net profits in our latest management results this financial year. Last year we only made 10,000.”

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