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Succession Advisory Services posts £1.4m profit

Succession Advisory Services has reported a £1.4m pre-tax profit for 2014, up from £384,981 the previous year

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The platform and consultancy business is part of Succession Holdings, which also owns national advice firm Succession Group.

It reported a 29 per cent increase in funds under management, from £1.6bn in 2013 to £2.1bn in 2014.

Turnover was £6.3m last year, up by 24 per cent from 5.1m in 2013.

The business is working with 72 member firms.

Succession Group chief executive Simon Chamberlain says: “Succession Advisory Services achieved strong performance in all aspects of our business in 2014.

“A key factor in the company’s success is that clients of acquired member firms are attracted to placing their investments on the Succession investment platform, because Succession Advisory Services is part of the same group as their advisory firm.

“This puts the company and Succession Group in a unique position in the marketplace and creates greater client security.”

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