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Whitechurch moves into profit for 2011

The Whitechurch Network has posted a £58,848 pre-tax profit for 2011 after posting a £103,077 loss in 2010.

The network saw a 4 per cent increase in turnover from £12.5m in 2010 to £13m in 2011.

A statement in the firm’s accounts says: “We have a healthy number of advisers and most are either level four qualified or certainly on route to being so in time for 2013. It is pleasing to see in this set of financial statements that the network traded well and was quite profitable for 2011.”

Whitechurch has around 180 advisers, including 30 mortgage and general insurance advisers, with 90 per cent of investment advisers qualified to QCF level four.

Money Marketing revealed in April that the firm intends to remain fully independent after the RDR, despite previous plans to offer a restricted proposition.



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