Tatton Asset Management has reported growth across both its support service network and discretionary fund manager as it looks to continue expanding on the back of its Aim listing last year.
Support service arm Paradigm Partners increased member numbers by 5 per cent to 368.
Meanwhile, DFM Tatton Investment Management grew its assets under management by 26 per cent to £4.9bn
Combined with growth in its mortgage advice business, chief executive Paul Hogarth says he is pleased with “strong underlying performance” across each of the firm’s three businesses, earmarking Tatton to win more business from mid and lower-market clients.
Hogarth says: “Financial advisers are increasingly seeing investment fulfilment as non-core and expensive due to the cost, regulatory exposure and professional commitment to offer their clients high levels of holistic financial advice and service rather than investment management.
“Therefore, the key driver for financial advisers is to focus where they can truly add value in the eyes of their clients which is a personalised advice and financial planning service while increasing their business’ scalability through streamlining the provision of the required financial instrument.”
The average portfolio size with Tatton is £100,000. Of the 341 adviser firms using the new DFM, around half are members of Paradigm’s support service provider, the firm tells Money Marketing.
Despite a £2m hit to the bottom line from costs involved in the IPO, the Paradigm group reports total profits of £3.6m.
The firm also hinted it could make acquisitions, funded in part through £10m in cash reserves freed up by the IPO.