View more on these topics

Profits triple for Positive Solutions

Positive Solutions has seen a 98 per cent increase in turnover, bringing business in the first quarter of the year to £15m from £7.5m in the same period last year.

First-quarter profits rocketed by 305 per cent to £1.5m from £490,000.

The firm’s annual report, published this week, also shows an increase in the number of its IFA partners from 750 to 1,100.

The firm puts its growth down to the quality of the IFAs it has on board and expects to be well on tar- get for hitting its busin- ess objectives.

Chief operating officer Neil Johnson says: “We are not a plc so we are not obliged to release our reports publicly.

“However, we have always believed that an IFA organisation should be transparent in its dealings with its stakeholders.

“These figures reflect our best quarter yet and confirm that we are on track to meet our business objectives through an efficient model enabled by technology.”

Recommended

PLATFORM EDGE: ALISTAIR HARDIE

It is often said that there is only one thing worse than being talked about and that is not being talked about. It is perhaps an indication of its impact on the market that Standard Life’s Sipp continues to generate so much interest. There has been considerable coverage of our decision to appoint Fidelity FundsNetwork […]

PLATFORM EDGE: bill vasilieff

An article in Money Marketing last week stated that Standard Life is encouraging its salespeople to sell the bene- fits of FundsNetwork – the provider’s supermarket partner – in a bid to build sales of self-invested personal pensions. We at Selestia have had two Sipp arrangements similar to this in operation for over two years […]

IFAs go off their trolley over supermart tie-ups

IFAs fear the growing number of tie-ups between life offices and fund supermarkets could create problems in monitoring clients’ holdings. Concerns have risen after it emerged that advisers using Standard Life’s Sipp will have access to all the funds on the FundsNetwork platform. How- ever, if they transfer any holdings not on FundsNetwork into the […]

Graphic Content – August

Given the release of employment data from the US on 5 August, we wanted to focus on employment data in this month’s Graphic Content. The Graphic Content below shows us that young and middle-aged workers were hit the hardest by the Great Recession and have never caught up. Since the job market started to recover […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment