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Top 100 2016: The full list of fantastic firms

Take a look at the full 100 financial planning firms which made it into this year's New Model Adviser® Top 100. The list is in alphabetical order.

To see which firms made the list last year, take a look at the 2015 Top 100 here.

To see which firms made the list last year, take a look at the 2015 Top 100 here.

Frank Morton

A2+B Wealth, Aberdeen

2016 has been a landmark year for A2+B Wealth, with the firm moving to a custom-built headquarters in Aberdeen. Throughout the year the firm has continued on its growth path, racking up another £30 million in assets under management, and recruiting a new director and adviser. A2+B has also bolstered its support team.

Director Frank Morton notes the firm benefits from being a part of one of the UK’s largest and fastest growing accountancy and tax consultancies (Anderson Anderson Brown). This has enabled an integrated and holistic service, incorporating private and corporate accountancy, planning and tax solutions.

Employees: 12

Funds under advice (£m)

201420152016
120140170

Total profits (£000)

201420152016
211400640

Percentage of recurring income (%)

201420152016
909090

Jonathan Hill

Albert Goodman Chartered Financial Planners, South West

Albert Goodman Chartered Financial Planners has a big presence in the south west, and has built on this in 2016 by moving its Weston office to new and improved premises. Jonathan Hill, a chartered financial planner in the Taunton office, says that the goal from here is for the firm to consolidate its position and continue to grow.

The firm is an arm of Albert Goodman Chartered Accountants, which celebrated its 150th anniversary on 30 September. It celebrated this landmark birthday by running numerous charitable events, including a 150km bike ride that eight members of staff took part in.

Employees: 34

Funds under advice (£m)

201420152016
200200210

Total profits (£000)

201420152016
429310310

Percentage of recurring income (%)

201420152016
665960

Anthony Harding

Anthony Harding & Partners, Winchester

Anthony Harding & Partners has been building its recurring income over the past 12 months, and this move has coincided with a 20% boost in assets under management. 2016 has been a year to remember for the firm, which has become more profitable and taken on a new paraplanner.

Managing director Anthony Harding, who for 12 years was a director of the IFP, explains that the company is now looking to add to its client books in 2017, while continuing to provide a high level of service. In accordance with this, a highly qualified planner will be joining the firm.

Employees: 7

Funds under advice (£m)

201420152016
505060

Total profits (£000)

201420152016
647580

Percentage of recurring income (%)

201420152016
808090

Arthur Childs

Arch Financial Planning, Cranleigh

Arch Financial Planning has been on a steady growth curve over the last few years, and has benefitted from focusing on clients that fit its proposition. As such, the previous client segmentation system has been scrapped, and the firm has evolved to become more profitable.

The firm is also a member of the Nucleus Advisory Board, with director Arthur Childs being the chair of the Nucleus Practice Development Group. The aim of Childs’ involvement is to share best practice with other members.

Employees: 12

Funds under advice (£m)

201420152016
110158190

Total profits (£000)

201420152016
422150

Percentage of recurring income (%)

201420152016
696875

Richard Dunbabin

Ascot Lloyd Financial Services, Harrogate

With £2.5 billion in assets under advice, Ascot Lloyd Financial Services is one of the UK’s largest IFAs.

This figure has more than doubled since 2014, while employee numbers during the same period jumped from 68 to 188. The firm has grown organically and through acquistions.

The firm had plans for an IPO in 2016, but dropped them at the end of October.

Ascot Lloyd aims to consolidate its service and best practices, roll out its training academy and develop its investment proposition.

Employees: 188

Funds under advice (£m)

201420152016
110022002500

Total profits (£000)

201420152016
700800200

Percentage of recurring income (%)

201420152016
757575

Andy McLaughlin

Astute Wealth Management, Manchester

Andy McLaughlin, director of Astute Wealth Management and chairman for the PFS in Manchester, has been building his firm while remaining a prominent supporter of the planning profession. McLaughlin’s endeavours have encouraged graduates to the profession, and his firm has hired four from the University of Central Lancashire and Manchester Met.

In the meantime, Astute Wealth Management has been scaling new heights and has ambitions of taking turnover beyond the £1 million mark. Another ambition, following McLaughlin’s investment in staff training and Astute’s career pathway, is to ensure all the firm’s client-facing advisers achieve chartered status before the close of 2017.

Employees: 13

Funds under advice (£m)

201420152016
150250350

Total profits (£000)

201420152016
140187233

Percentage of recurring income (%)

201420152016
757775

Cliff Patterson & Louise Morris

AV Trinity, Tunbridge Wells

2016 has been a mixed year for AV Trinity, following the untimely passing of managing director Karen Vidler in April. Nonetheless, the firm is in a strong position, thanks in part to the support shown by clients and professional connections.

AV Trinity is looking to develop its connections with local legal firms, and hopes to add two more paraplanners to its team. A new rebranded website is also on the way, and Morris & Patterson hope for two more of the firm’s advisers to achieve chartered status in 2017.

Employees: 28

Funds under advice (£m)

201420152016
337375380

Total profits (£000)

201420152016
450495250

Percentage of recurring income (%)

201420152016
696772

Richard Lord

Bartholomew Hawkins, Cardiff

Bartholomew Hawkins achieved sizeable growth this year, developing its proposition while increasing profit margins. A major factor in this has been its dedication to investment capabilities, including a discretionary fund management arm.

The business has focused on attracting new talent and marketing for new clients of late. As such, a brand relaunch is in the pipeline, maintaining the firm’s ‘strength in strategy’ mantra.

Client communication is key with the firm sending out regular newsletters and call-outs.

Employees: 28

Funds under advice (£m)

201420152016
5485150

Total profits (£000)

201420152016
100300500

Percentage of recurring income (%)

201420152016
456075

Tony Larkins

Beacon Wealth Management, Kimbolton

Beacon Wealth Management consolidated its position in 2016, increasing recurring income in the process.

Assets under advice took a hit this year following the departure of an adviser, but managing director Tony Larkins reports the Huntingdon firm has since recovered. Cross-referrals from Jeffery Mills Solicitors, which Beacon Wealth Management acquired last year, assisted in this. The firm aims to increase assets under management, develop the skills and knowledge of its staff, and maintain its far-reaching presence on the local charity scene.

Employees: 22

Funds under advice (£m)

201420152016
95110120

Total profits (£000)

201420152016
462600600

Percentage of recurring income (%)

201420152016
606368

Andrew Bennett

Beaufort Financial Planning, Westerham

Expansion is on the cards for Beaufort Financial Planning, which is reinvesting all of its revenue into the business. Over the next 12 months the firm is looking to increase from nine appointed representatives to 20. It also intends to support the expansion of its existing appointed representatives.

The Beaufort Group supports the Trailblazer Apprentice Scheme, and has two graduates employed within the firm. It values client engagement, providing regular seminars and a weekly report email to provide an overview of the investment landscape

Employees: 22

Funds under advice (£m)

201420152016
463550810

Total profits (£000)

201420152016
139162137

Percentage of recurring income (%)

201420152016
808080

Ian White

Beckett Investment Management Group, Bury St Edmunds

Beckett Investment Management Group has embraced technology this year, vastly reducing its paper usage and boosting the number of clients monitoring their investments online. This has been part of an operational efficiencies programme that has fuelled an increasingly successful business model.

Ian White, managing director of the Bury St Edmunds firm, is striving to reinforce the brand, invest further in back-office technology and staff, and provide further innovation. In line with this, the firm is keen to establish itself as an Employer of Choice for people seeking a career in financial services.

Employees: 50

Funds under advice (£m)

201420152016
415470525

Total profits (£000)

201420152016
400500575

Percentage of recurring income (%)

201420152016
959292

Carolyn Gowen

Bloomsbury Wealth, London

Following Jason Butler’s decision to sell his minority shareholding in 2015, Carolyn Gowen and Robert Lockie are the co-owners of Bloomsbury Wealth. The firm has grown this year regardless, hiring a marketing assistant and a wealth planning assistant.

Branch principal Gowen has overseen a reduction in overheads, with greater efficiencies provided by improved working practices and ongoing training. Bloomsbury Wealth actively encourages staff to take on qualifications, reimbursing the examination cost and paying bonuses on successful completion of certain higher level certifications.

Employees: 11

Funds under advice (£m)

201420152016
154142175

Total profits (£000)

201420152016
11368243

Percentage of recurring income (%)

201420152016
858585

Sheriar Bradbury

Bradbury Hamilton, London

London-based Bradbury Hamilton was set up in 1993 by chartered financial planner Sheriar Bradbury to offer independent, holistic financial planning.

The chartered firm has continued to increase its funds under management and turnover despite a change in strategy over the past 18 months; shifting away from an acquisition trail to focus on the existing client bank.

Investment into the firm’s IT systems has allowed for a more seamless advice process and Bradbury intends to further improve client service to consolidate profitability.

Employees: 29

Funds under advice (£m)

201420152016
140150160

Total profits (£000)

201420152016
307823800

Percentage of recurring income (%)

201420152016
656666

Keri Carter

Broadway Financial Planning, Broadway

Based in the quaint Cotswolds, Broadway Financial Planning has reached the £100 million assets under advice mark this year, enjoying an increase of £355,000 in turnover and £239,000 in pre-tax profit since 2015.

The firm has reinvested 10% of its revenue to develop its IT systems and marketing efforts; the Broadway brand was given a fresh look in 2015 and a new website along with more client events has attracted new clients and reinforced existing client relationships.

The firm wants to further increase profits by growing the financial planning team.

Employees: 10

Funds under advice (£m)

201420152016
5055100

Total profits (£000)

201420152016
81102341

Percentage of recurring income (%)

201420152016
657073

Alan Smith

Capital Asset Management, London

Capital Asset Management, set up in 2005, established itself for being on the front foot as an early adopter of passives and platforms and as an advocate of the flat, fixed fee charging model.

The firm’s goal is to ‘be recognised as the lead innovator in the flat-fee space and to crystallise change at governmental, regulator and industry levels’. With a focus on marketing it plans to promote flat-fee charging structures to the IFA, DFM and client community through a flat-fee association.

The firm is also supporting the next generation having taken on a young consultant, aged 24.

Employees: 10

Funds under advice (£m)

201420152016
20235245

Total profits (£000)

201420152016
400450450

Percentage of recurring income (%)

201420152016
809095

Caroline Banks

Caroline Banks and Associates, London

Caroline Banks, who in 2006 became one of the first financial planners to become chartered, with her firm following suit and receiving corporate chartered status in 2007, has increased turnover by 12% in the last 12 months. All while carrying out notable involvement in the wider advice profession and local community.

Banks is supporting the Million Dollar Round Table foundation along with various local and national charity causes and is keen to promote the profession to the next generation of advisers.

Employees: 10

Funds under advice (£m)

201420152016
125135140

Total profits (£000)

201420152016
209230215

Percentage of recurring income (%)

201420152016
828590

Mike Hodges

Carrington Investment Consultants, London

Carrington Investment Consultants, based in London, has enjoyed a busy and fruitful year, thanks to its sophisticated growth plan. As well as taking on a number of new staff members, the firm has its professional connections from three to seven.

The plan, rolled out in 2011, has helped Carrington increase assets under advice by 150%, and the firm has also enjoyed a 22% increase in both revenue and profit before tax in the last financial year.

Despite a successful year, the team is not slowing down any time soon, with its application for discretionary powers imminent and plans to offer a family office service for higher net worth clients.

Employees: 9

Funds under advice (£m)

201420152016
8199115

Total profits (£000)

201420152016
213259401

Percentage of recurring income (%)

201420152016
818081

Tim Ames

Cathedral Financial Management, Exeter

Cathedral Financial Management, set up in 1993, has experienced s teady growth all round d discretionary investment service.

Cathedral intends to attract more clients by relocating its premises and secure a position close to the M5 corridor and upcoming East Devon Gateway.

Funds under advice (£m)

201420152016
250271290

Employees: 25

Total profits (£000)

201420152016
890932900

Percentage of recurring income (%)

201420152016
768190

Ian Smith

Central Wealth Planning, Solihull

Central Wealth Planning has grown its presence in the Midlands, and achieved a steady rise in AUM over the past year. Director Ian Smith says organic growth fuelled last year’s success, and that he is considering the purchase of a nearby firm.

The firm has also undergone a degree of internal overhaul, following its decision to join the Tavistock Financial network in 2015. Now that the Tavistock processes have been embedded, Smith believes the chartered firm will continue to progress.

Besides looking to elevate the business to the next level, Smith is also working towards a PhD in Financial Planning.

Employees: 3

Funds under advice (£m)

201420152016
462225

Total profits (£000)

201420152016
65102110

Percentage of recurring income (%)

201420152016
939391

David Thomas

Chadney Bulgin, Fleet

Fleet-based Chadney Bulgin has achieved organic and controlled growth while consolidating the business. A development of the firm’s IT systems has streamlined the advice process and further specialisation, such as separating mortgage and protection advice into specialist areas, is on the cards.

The chartered firm is well-established in the area, with marketing, best practice involvement and local charity work reinforcing its presence. The team are regular contributors to trade publications and joint managing partner David Thomas is immediate past president of The Personal Finance Society.

Employees: 80

Funds under advice (£m)

201420152016
675730765

Total profits (£000)

201420152016
280031003300

Percentage of recurring income (%)

201420152016
525458

Stephen Jones

Cooper Parry Wealth, Castle Donington

While client satisfaction is key, Derby-based Cooper Parry is confident its staff remain content. At its Google-style offices, the team, who enjoy a range of benefits from flexible working to treadmill desks, has grown by six in the past year, with a particular focus on support staff. The firm has also introduced an intern programme and continues to run its existing graduate scheme.

Cooper Parry has a new base in Tunbridge wells, following a joint venture with accountancy firm Creaseys, and Birmingham, following the acquisition of Clement Keys. Between 2015 and 2016 the firm increased funds under management by over £100 million.

Employees: 26

Funds under advice (£m)

201420152016
167205309

Total profits (£000)

201420152016
4806701200

Percentage of recurring income (%)

201420152016
757576

Graeme Inglis

Create and Prosper Financial Services, Kirkcaldy

Kirkaldy-based Create and Prosper was set up in 2010 by director and chartered financial planner Graeme Inglis, a tutor at Edinburgh University, after ‘growing tired with the target mentality’ of the world of bank advice.

The chartered firm has enjoyed a busy year, with the most significant changes including a move from a self-employed adviser model to an employed model, the progression of its trainee adviser to diploma qualified, two new hires and a property move to enable further expansion. The firm aims to grow and enhance the personal client experience it provides and has taken on two new members of staff.

Employees: 10

Funds under advice (£m)

201420152016
688085

Total profits (£000)

201420152016
272200280

Percentage of recurring income (%)

201420152016
606568

Peter Davies

Create Wealth Management, Newport

Peter Davies and Stephen Ng met in 2001 while working for Lloyds TSB Private bank. The pair formed Create Wealth Management over a decade ago to offer a holistic, whole-of-market and client-focused model.

Create Wealth Management is a corporate chartered firm and holds the BS 8577, Davies is chartered and certified and both Davies and Ng have ISO 22222, the individual best practice standard for financial planners.

The two directors have extended their holistic offering at the Newport-based firm by undertaking more cashflow planning and complex advice cases following the hire of an experienced, STEP-qualified paraplanner.

Employees: 6

Funds under advice (£m)

201420152016
303441

Total profits (£000)

201420152016
134178195

Percentage of recurring income (%)

201420152016
757580

Brian Benson

Crown Wealth Management, Shrewsbury

Crown Wealth Management has had a year of growth in all aspects with increased profits, assets and staff. Clients now have access to a new client portal and the funds under advice have gone up £20 million to £90 million.

Managing director Brian Benson set up the Shrewsbury-based business in 2006 and said one of the firm’s goals is to reach a gross profit margin of 60%.

One of Crown Wealth’s new recruits is a post-graduate who is helping improve the firm’s use of technology and improve operational efficiencies.

Employees: 7

Funds under advice (£m)

201420152016
537090

Total profits (£000)

201420152016
183151170

Percentage of recurring income (%)

201420152016
717983

Mike Godfrey

Cube Financial Planning, Romsey

In 2016 Cube managing director Mike Godfrey’s son Jonny, who also works at the firm, gained his diploma in financial planning. Mike’s son Leigh, who runs the operational side at Cube, is working towards the Chartered Institute of Management Accountants exams.

Following the merger of the Institute of Financial Planning (IFP) and Chartered Institute for Securities & Investment (CISI), Godfrey’s role on the education committee of the IFP came to an end and he has now joined the CISI South Coast committee, with a specific mandate on the education.

The Hampshire-based firm’s profits have steadily increased over the last three years to £300,000 in 2016.

Employees: 4

Funds under advice (£m)

201420152016
100108120

Total profits (£000)

201420152016
185243300

Percentage of recurring income (%)

201420152016
869088

Simon Wood-Woolley

Define Financial Planning, Reigate

Since last year Reigate-based Define Financial Plannning has combined with its sister firm Define Wealth, taking the name of the latter. As a result, managing director Simon Wood-Woolley has been joined by co-director Edward Perry, who has adding clients and boosted profits. The firm recorded a £230,000 pre-tax profit for 2016. The business is now hoping to recruit an adviser to its team of five.

The firm has a pre-tax profit of £230,000 in 2016.

Employees: 6

Funds under advice (£m)

201420152016
507590

Total profits (£000)

201420152016
8090230

Percentage of recurring income (%)

201420152016
807570

Andrew Day

Depledge Strategic Wealth Management, Manchester

Andrew Day founded Manchester-based Depledge Strategic Wealth Management in 2014. Day set the firm up to specialise in advising current and retired senior managers and directors.

It has continued to grow at a steady pace, and took on 50 new client relationships in 2016.

The culture of the firm has gone from a small start up to a more established professional operation since numbers have risen to nine members of staff with three advisers.

Depledge is looking to move to bigger premises to cater for the expanding team and also hopes to grow its presence in the workplace advice space.

Employees: 4

Funds under advice (£m)

201420152016
5075105

Total profits (£000)

201420152016
113107135

Percentage of recurring income (%)

201420152016
858687

Jamie Donald

Donald Wealth Management, Sutton Coldfield

Jamie Donald has restructured his business this year following the death of his father Ian, who founded the precursor to Donald Wealth Management, Acorn Warnford, in 1991.

Jamie has rationalised his client bank by 40% to focus more on high net worth clients and offering them a comprehensive wealth management service. The firm ends 2016 with £100,000,000 assets under management.

The firm has raised funds for the Helicopter Emergency Landing Pads appeal and is aiming to direct a proportion of profits to the charity.

Employees: 3

Funds under advice (£m)

201420152016
70115100

Total profits (£000)

201420152016
243475500

Percentage of recurring income (%)

201420152016
909595

Charles Reading

Efficient Portfolio, Rutland

Chartered financial planning firm Efficient Portfolio was set up by Charles Reading in 2005. The firm has three advisers supported by 11 staff plus outsourced paraplanners from Efficient Paraplanning, which Reading part owns.

The firm offers a one-off service as well as an ongoing service to clients and is hoping to triple client referrals in 2017.

Reading has invested 70% of revenue from 2016 into strengthening his team, launching an education service and developing the back-office system. In 2015 Reading’s book The Dream Retirement was published.

Employees: 14

Funds under advice (£m)

201420152016
4165105

Total profits (£000)

201420152016
142222500

Percentage of recurring income (%)

201420152016
404455

Gemma Siddle

Eldon Financial Planning, Newton Aycliffe

Director Gemma Siddle joined the firm in 2005, won the IFP Paraplanner Of The Year award in 2013 and is now a chartered financial planner.

The firm has gone from strength to strength, boasting a recurring revenue of 91% for the past three years.

One of the firm’s goals is to achieve a turnover of £1 million in 2016/17 with the help of stronger ties with the business community in Aycliffe Business Park. Eldon planners treat each face-to-face meeting as an opportunity to introduce a new element of investment portfolio theory to the client.

Employees: 10

Funds under advice (£m)

201420152016
126130150

Total profits (£000)

201420152016
456441470

Percentage of recurring income (%)

201420152016
919191

Michael Cope

Ellis Bates Group, Newcastle

Ellis Bates has had a busy year. On the business development side, in May it recruited an adviser to grow the telephone advice arm of its business. In March the company launched Ellis Bates Wealth Management, a service designed for clients with a minimum of £100,000 investable assets. In the same month the company’s new website was launched.

2016 was also the year Ellis Bates reached £1 billion in assets under advice with pre-tax profits standing at £164,000.

The firm has 20 advisers and 70 staff members who do not shy away from a charity challenge including the Yorkshire Three Peaks Challenge and raising money for a host of charities.

Employees: 70

Funds under advice (£m)

201420152016
8459101000

Total profits (£000)

201420152016
39101164

Percentage of recurring income (%)

201420152016
777676

Barry Newbury

Epoch Wealth Management, Bath

Charities form one of the two segments of Epoch’s clients, the other being private clients.

The firm increased pre-tax profits 17% in 2016 taking them to £1.4 million. Epoch Wealth’s £370 million assets under advice are managed by eight advisers.

Barry Newbury and three other partners set up Epoch Wealth Management in 2010 which recruited two advisers in 2016, one as an adviser and one on a training programme.

Epoch has a focus, as it grows adviser numbers, on ensuring they embrace and adhere to the firm’s ethos.

Employees: 26

Funds under advice (£m)

201420152016
330300370

Total profits (£000)

201420152016
110012001400

Percentage of recurring income (%)

201420152016
697673

Colin Lawson

Equilibrium Asset Management, Wilmslow

Equilibrium Asset Management, established in 1995, had its most successful year in 2016. It grew its client bank by 85 families, increased turnover by 20% and gained an additional £90 million in assets under management.

The firm has shown a real commitment to training and development this year, by recruiting a head of development and training and a best practice manager, and hiring a performance coach.

Equilibrium, headed by managing partner Colin Lawson, is going full steam ahead with launching its own funds and plans to continue on its current growth trajectory.

Employees: 60

Funds under advice (£m)

201420152016
377472595

Total profits (£000)

201420152016
7548841054

Percentage of recurring income (%)

201420152016
969795

John Millican

Fiducia Wealth Management

Managing director John Millican has seen an increase in staff headcount matched by increased turnover and assets. By the end of 2017 Fiducia aims to be a chartered financial planning practice.

The firm plans to increase assets under advice by 20% year-on-year and in turn increase profitability and is on target with current pre-tax profits of £210,000. Its clear growth strategy involves annually reinvesting 33% of revenue.

For marketing, Fiducia has a smart strategy of targeted social media content and a fresh, relevant and engaging website.

Employees: 18

Funds under advice (£m)

201420152016
100120145

Total profits (£000)

201420152016
198212210

Percentage of recurring income (%)

201420152016
798285

Shane Mullins

Fiscal Engineers, Nottingham

Fiscal Engineers has a focus on serving top-tier professionals with at least £1 million of investable assets and it also offers a family office service.

Shane Mullins, previously chief executive and now executive chairman of the Nottingham-based firm, plans to continue investing 7% of revenue into improving processes.

The firm previously invested more in building client relationships after seeing the strength of word of mouth referrals.

This continues to pay off as assets under advice increased by 11%.

Employees: 25

Funds under advice (£m)

201420152016
284300318

Total profits (£000)

201420152016
634629704

Percentage of recurring income (%)

201420152016
979798

Mark White

Fortitude Financial Planning, Northampton

In 2002, Chris Bowmer and Mark White set up Fortitude Financial Planning; meeting third director Neil Bailey at a local IFP meeting.

Northampton-based Fortitude Financial Planning has built a business around financial planning only, meaning it does not have to worry about segmentation.

The firm has grown organically over the years, using referrals and professional connections to gain clients.

In June Fortitude expanded by recruiting another financial planner and has also benefited from business consultancy from Brett Davidson at FP Advance.

In the pipeline is a client advisory group that will help integrate the new financial planner.

Employees: 9

Funds under advice (£m)

201420152016
586376

Total profits (£000)

201420152016
346346436

Percentage of recurring income (%)

201420152016
727376

Iain Mackie

Fraser Wealth Management, Liverpool

2016 was a big year for Fraser Wealth Management as all four of its advisers achieved ISO22222 accreditation and the business was awarded BS8577 accreditation through Standards International.

On top of this two of its paraplanners received diplomas and one of them, Lisa Selwyn- Shepherd, was awarded the local Chartered Insurance Institute’s young achiever of the year award.

Looking forward the firm, run by managing director Iain Mackie, wants to transition the two paraplanners into financial planners.

The only real challenge for the business is how his advice firm can be more profitable.

Employees: 12

Funds under advice (£m)

201420152016
156165175

Total profits (£000)

201420152016
335340371

Percentage of recurring income (%)

201420152016
848889

David Rouse

Friar Gate IFS, Derby

Friar Gate IFS has managed to quickly grow its assets in recent years which now sit at £65 million.

David Rouse, Friar Gate’s principal financial planner, said this has been achieved through increasing the firm’s professionalism and generating referrals from existing clients and professional connections.

The firm has had some notable clients over the years including Manchester United legends Ole Gunnar Solskjær and Peter Schmeichel.

Friar Gate is keen on doing pro-bono work for clients and dedicates time to helping young people do their NVQs in sports management.

Employees: 4

Funds under advice (£m)

201420152016
385065

Total profits (£000)

201420152016
153155170

Percentage of recurring income (%)

201420152016
556065

Jillian Thomas

Future Life Wealth Management, Sheffield

Future Life Wealth Management may only have been around since 2010, but the Sheffield-based firm has big plans, with acquisitions on the horizon which could further boost its funds under advice.

The firm prides itself on marketing and PR, with its founder and managing director Jillian Thomas playing an active media role during the EU referendum with appearances on BBC and other international radio stations in her capacity as president of the Sheffield Chamber of Commerce.

This media work helped the firm gain 19 new clients and around £10 million more in FUA, but the business wants to keep expanding.

Employees: 8

Funds under advice (£m)

201420152016
5088100

Total profits (£000)

201420152016
71101300

Percentage of recurring income (%)

201420152016
707680

Mark Denley

Gibbs Denley Financial Services, Cambridge

Gibbs Denley Financial Services has big plans for 2017, with it set to complete its acquisition of Elliot Financial Management in January and goals of recruiting two chartered client managers.

This firm’s growth has been due to it investing around a fifth of its revenues back into the business. It has also seen its profits and funds under advice on the up in the last few years.

In 2016 the firm recruited a full-time marketing professional, and the firm has developed its marketing presence by sponsoring the East Anglian Premier League.

Employees: 31

Funds under advice (£m)

201420152016
228310375

Total profits (£000)

201420152016
100013801500

Percentage of recurring income (%)

201420152016
869092

Lee Gleenan

Glennan Wealth Management, Leeds

Glennan Wealth Management has achieved steady growth in recent years and wants this to be the plan going forward, making sure it works with the right type of clients. Most of its clients come through referrals and word of mouth.

Next year the firm is moving to new premises and is actively looking to recruit new staff. It has set itself the goal of working with 100 clients, increasing from its total of around 55.

The firm outsources its investment proposition to EBI Portfolios and only offers clients a comprehensive financial planning service.

Employees: 4

Funds under advice (£m)

201420152016
162735

Total profits (£000)

201420152016
28195250

Percentage of recurring income (%)

201420152016
708085

Andrew Gait

Gould Financial Planning, Newport

Simon Gould and Andy Gait have built a business around growth from within. In the last 18 months the firm has promoted two employees, who began as administrators 11 years ago, to director level.

The firm has undergone a rebrand, changing its name from Kilsby Williams & Gould. The new moniker relates best to one of the director’s names.

The firm centres on providing high-net worth advice and has grown its funds under advice steadily in the last few years, as well as seeing its profits on the up.

The firm is seeking Standards International BS8577 and ISO22222 accreditation.

Employees: 17

Funds under advice (£m)

201420152016
136147160

Total profits (£000)

201420152016
236139240

Percentage of recurring income (%)

201420152016
616365

Jeremy Arthur

Harpsden Wealth Management, Henley-on-Thames

Harpsden Wealth Management, formerly known as OakTree Wealth Management, was set up in 2008 by directors Jeremy Arthur and chief investment officer Ian Brady. Despite entering a turbulent market at the time, the firm has gone from strength to strength, with the Henley-on-Thames-based business seeing profits and funds under advice on the up in recent years.

In 2016 Harpsden unbundled its wealth management service into a portfolio management service and a financial planning service which means it can service a broader range of clients.

Employees: 15

Funds under advice (£m)

201420152016
162236285

Total profits (£000)

201420152016
326371570

Percentage of recurring income (%)

201420152016
899292

Nicholas Platt

Henwood Court, Birmingham

Henwood Court boosted the skills base of its team in 2016, as well as spending time improving systems and operational efficiency.

The firm, run by managing director Nicholas Platt, has taken the decision to only take on clients on a full financial planning basis.

In recent years the business has secured a steady rise in profits and employees.

Going forward Henwood Court wants to develop its proposition and be more visible to its ideal clients.

The business also plans to launch its own business network in 2017 for trusted advisers in the business-owner community.

Employees: 13

Funds under advice (£m)

201420152016
90100100

Total profits (£000)

201420152016
351375480

Percentage of recurring income (%)

201420152016
858690

Kevin Scott

Herbert Scott, Lewes

David Herbert and Kevin Scott set up Herbert Scott in 1996 with the aim of establishing a business there for the long haul.

In 2016 the firm rebranded its offering into Proficient Planning, Proficient Portfolios and Proficient Partners, creating a new website and company brochure to model it.

Profit, funds under advice and employees have been on the rise in recent years.

Looking forward the firm is looking to grow its fund under advice by £12 million, add a new apprentice administrator and take on another chartered financial planner to its team.

Employees: 11

Funds under advice (£m)

201420152016
565975

Total profits (£000)

201420152016
145165200

Percentage of recurring income (%)

201420152016
767880

Christopher Jordan

Heron House Financial Management, Newport

Heron House Financial Management has seen its number of high-net worth clients on the up in recent times.

In order to cope with this influx, director Chris Jordan has taken on four business graduates over the last 18 to 24 months. Out of these, one recently become authorised and the others are on their way to achieving the necessary qualifications.

The firm, a past winner of the New Model Adviser® award for Wales six times, puts around 20% of its revenues back into the business.

Employees: 14

Funds under advice (£m)

201420152016
180222244

Total profits (£000)

201420152016
298310340

Percentage of recurring income (%)

201420152016
808391

Jeremy Hoyland

HFM Columbus Group, London

HFM Columbus has seen its assets under advice, employees and profit grow in recent years, however it is keen to see this growth continue.

HFM Columbus puts around 5% of its revenues back into the business and in recent months has dedicated this investment to improving IT as well as staff training.

The business mainly relies on referrals from existing clients to attract new business.

Looking forward, HFM Columbus wants to acquire suitable businesses, as well as increase its profitability and improve its client service offering.

Employees: 89

Funds under advice (£m)

201420152016
600675800

Total profits (£000)

201420152016
443473534

Percentage of recurring income (%)

201420152016
616973

Rod Milne

HFS Milbourne Financial Services, Guildford

Joint managing directors Rod Milne and Colin Hayden-Cook aim to consolidate their work in the legal sector, and to expand the number of legal firms they deal with in order to increase profitability.

They certainly seem to be achieving this in 2016. Turnover rose by 14% and new business by 17%. This was driven by the recruitment in 2015 of two senior business development consultants, with additional technical support to assist in greater penetration of the solicitors’ market.

In addition, HFS Milbourne sponsors the Surrey Law Society and runs several CPD training seminars for lawyers, which are usually seminars designed to encourage lawyers to refer clients to them.

Employees: 29

Funds under advice (£m)

201420152016
240280315

Total profits (£000)

201420152016
596660707

Percentage of recurring income (%)

201420152016
727479

Andrew Johnston

Holden & Partners, London

Holden’s branding is built around ethical and sustainable investment, which it hopes will positively impact wider society. Having pioneered this path since 2003, Holden has unrivalled knowledge in ethical, sustainable and new/emerging investments.

Clients are further educated clients through a regular newsletter. Meanwhile, a website outlines the firm’s ethical and green investment strategies and brings in new clients. Lunches are also held for clients with investment managers invited to discuss relevant topics.

Employees: 23

Funds under advice (£m)

201420152016
385430475

Total profits (£000)

201420152016
94010001050

Percentage of recurring income (%)

201420152016
758075

Alistair Creevy

Independent Advisers Scotland, Glasgow

One of fastest growing IFAs in central Scotland, IAS’s profile has been enhanced by referrals from professional connections, while growth has been driven by corporate sector clients. Indeed, it has taken on additional support staff to help with business expansion.

The firm has also launched My Will Scotland, My Family Business Scotland (aimed at professional connections) and an independent advisers consultancy (aimed at corporate auto enrolment). All of these have been successfully established as profitable companies.

Employees: 11

Funds under advice (£m)

201420152016
85115135

Total profits (£000)

201420152016
450450500

Percentage of recurring income (%)

201420152016
707580

Kevin Ferriby, Informed Financial Planning, Hull

In the last 12 months, IFP invested heavily in a support team, bringing in eight new recruits.

This has allowed the firm’s financial planners to focus on more client-facing activities. The advice firm implemented its Client Interview project during the year. The project involved listening closely to what clients said they wanted and implementing the feedback effectively as part of service propositions.

The firm offers apprenticeships each year to youngsters from the local community and recently gave the second of these a full time role in the business.

Employees: 23

Funds under advice (£m)

201420152016
105120135

Total profits (£000)

201420152016
683862813

Percentage of recurring income (%)

201420152016
556061

Steve Patterson, Intelligent Pensions, Glasgow

In the next 12 months, Intelligent Pensions, led by managing director Steve Patterson, plans to capitalise on its strengths in the pension transfer market. It is supporting financial advisers and corporations to deliver quality transfer advice to clients and members. The firm intends to develop its corporate offering to deliver affordable advice to the workplace pensions market. It will also focus on supporting advisers to deliver specialist retirement planning advice, in particular complex drawdown cases, pension transfers and lifetime allowance planning.

Employees: 28

Funds under advice (£m)

201420152016
340350375

Total profits (£000)

201420152016
159286310

Percentage of recurring income (%)

201420152016
959590

Ivan Lyons, Investment Solutions Wealth Management, Worthing

Investment Solutions is the only Sifa-accredited chartered independent wealth manager in West Sussex. This status allows it to hold Law Society-accredited training programmes.

Indeed professional seminars are held internally for accountants and solicitors on a quarterly basis.

As part of a holistic financial planning service, the firm has moved to an internal DFM model. This is part of plans to secure organic growth, with the aim of achieving £2 million turnover in 2017. In July 2016, 35% of revenue was used to purchase the freehold business property.

Employees: 15

Funds under advice (£m)

201420152016
187258275

Total profits (£000)

201420152016
8629421000

Percentage of recurring income (%)

201420152016
636668

Nicola Watts, Jane Smith Financial Planning, Olney

Jane Smith is increasingly focusing on a higher net worth client bank, with newer clients only being offered one level of service. To support this change in focus, and increasingly technical client needs, the firm has recruited a highly qualified paraplanner and a new administrator.

It also restructured the existing team to more ably support sole planner and director, Nicola Watts, on a daily basis.

The firm has worked with a branding consultancy since January 2016 to update a ‘tired’ brand.

Employees: 6

Funds under advice (£m)

201420152016
333640

Total profits (£000)

201420152016
13586119

Percentage of recurring income (%)

201420152016
576457

Derek Evans, Juno Wealth Management, Haywards Heath

Juno’s strategy is to grow its business organically by 10%-15% a year, as a boutique and high-quality financial planning business. A small team of four, Juno has successfully transformed its business in the past two years into a fully fledged financial planning proposition. This year it will seek to employ a fifth person. Husband and wife team Derek and Tracey Evans are Juno directors and personally support Sussexbased local charity, the Golden Lion Children’s Trust. This charity supports children with special needs and underprivileged young people. Tracey is a trustee and the treasurer for Golden Lion.

Employees: 5

Funds under advice (£m)

201420152016
333640

Total profits (£000)

201420152016
13586119

Percentage of recurring income (%)

201420152016
576457

Colin Low, Kingsfleet Wealth, Ipswich

Kingsfleet started to target its introducers in 2015 with a more specific picture of its ideal client. As a result, the quality of referrals received has improved dramatically and it is now being introduced to other professionals through those existing contacts.

The firm has taken on a client relationship manager, whose role is to resolve many of the queries coming through to advisers. She is also proactive in maintaining client relationships.

Relationships have also been built with charities such as Age UK Suffolk. This enables Kingsfleet to deliver client-facing seminars with their support and endorsement.

Employees: 10

Funds under advice (£m)

201420152016
456080

Total profits (£000)

201420152016
134200250

Percentage of recurring income (%)

201420152016
506270

Edward Kelly, KPW Investments, Glasgow

Having realised several years ago organic growth through existing client referrals would not get KPW to where it wanted to be, in 2013 the firm acquired its first IFA practice in Glasgow. Since then it has gone on to acquire several more IFA businesses in central Scotland.

Management’s ambition is to continue on the acquisition trail by buying at least one more business in the next 12 months. It also aims to reach £100 million assets under management.

KPW’s branding strategy remains the same as in previous years: to develop its reputation as the foremost investment advisers in Scotland and offer the highest levels of personal service to clients.

Employees: 7

Funds under advice (£m)

201420152016
496794

Total profits (£000)

201420152016
346376490

Percentage of recurring income (%)

201420152016
858995

Julia Parsons, Kreston Reeves Financial Planning, London

esult, the firm now has 50 partners and more than 450 staff, spread across 10 locations in London and the south east.

The merger has created a new firm with greater breadth and depth to meet clients’ needs, right across the spectrum from business advisory, through to tax and audit, to wealth management. It also provides a stronger base on which Kreston Reeves can develop a range of new services to meet changing business needs.

Employees: 20

Funds Under Advice (£m)

Funds under advice (£m)

201420152016
275290315

Total profits (£000)

201420152016
796944907

Percentage of recurring income (%)

201420152016
606671

Karen Barwick, Laurus Associates, Newcastle

Laurus is seeking to engage a younger audience and has started to embrace social media to help achieve this. A new corporate logo has been approved, with a fresher design to spearhead its new social media campaign. The campaign was due to go live in the autumn and to be introduced to existing clients via a newsletter.

The firm successfully raised its profile by training members of the Institute of Chartered Accountants in England and Wales (ICAEW).

They sponsor a couple of ICAEW events a year and are involved in local Tyne Tees ICAEW. Laurus’s involvement in other non-industry organisations has helped promote apprenticeships to local accountants.

Employees: 6

Funds under advice (£m)

201420152016
747681

Total profits (£000)

201420152016
13396122

Percentage of recurring income (%)

201420152016
778588

Steve Burns, Lewis Brownlee Financial Services, Chichester

Lewis Brownlee Financial Services is the financial advice arm of accountancy firm Lewis Brownlee.

Managing director Steve Burns’s firm is appearing in this year’s Top 100 for the second time. The business is not the new kid on the block, however, as it was established in 19900.

Since then Burns’s business has amassed £155 million in funds under advice, and has just broken its £1 million annual turnover target for 2016. The firm retains the same number of registered individuals as last year (four), adding an extra employee this year to make a total team of eight.

Employees: 8

Funds under advice (£m)

201420152016
100125155

Total profits (£000)

201420152016
460525539

Percentage of recurring income (%)

201420152016
656770

Warren Shute, Lexington Wealth Management, Lydiard Millicent

Keen sportsman and wine connoiseur Warren Shute is definitely hitting the spot at his Wiltshire-based firm, established in 2000 with his wife Nicky. This sole-adviser firm has seen assets under advice grow by £6 million in the last 12 months to £40 million. Profits have also grown from £250,000 in 2014 to £275,000 in 2015, and then to £300,000 in the last 12 months.

Shute is aiming high for 2017 with plans to set up a financial education development programme for local schools. The firm is hoping to reinvest 20% of profits back into its own growth.

Employees: 6

Funds under advice (£m)

201420152016
303440

Total profits (£000)

201420152016
250275300

Percentage of recurring income (%)

201420152016
707075

Mike Holden, LIFT Financial, London

When LIFT Financial featured as New Model Adviser® cover stars in 2010, joint chief executives Mike Holden (pictured) and Joel Adams donned silly hats to pose as comedy duo Laurel and Hardy for our photographers.

Since then the firm’s figures have given them plenty to smile about. Instead, its success has seen funds under advice increase by £100 million in the last year alone, to a whopping £1.3 billion.

LIFT’s stock of registered individuals has not changed, however, but the company has added a further five members of staff to create a team total of 75 in the last year.

Employees: 75

Funds under advice (£m)

201420152016
120013001500

Total profits (£000)

201420152016
332303317

Percentage of recurring income (%)

201420152016
676767

Ian Lowes, Lowes Financial Management, Newcastle

Lowes Financial Management has come a long way since Ken Lowes established it in 1971, and the family blood remains in the business, as Ken’s son Ian is now managing director after joining way back in 1988 and taking on the position in 2002!

In the last year, Lowes has further bolstered his team by five, making a total of 70 staff members, 15 of whom are now registered individuals.

The company’s funds under management is still growing rapidly, having increased by £64 million to £700 million. Lowes ties with its community remain extremely strong, as the firm has donated 3% of its profits to local charities.

Employees: 70

Funds under advice (£m)

201420152016
591636700

Total profits (£000)

201420152016
121110811007

Percentage of recurring income (%)

201420152016
495056

Robin Melley, Matrix Captial Management, Monkhopton

Robin Melley’s firm features in the New Model Adviser® top 100 again, and has clearly been bending over backwards to help clients and a new breed of IFAs.

Matrix Capital Management has smashed through its predicted target of reaching £36 million in funds under advice, to hit the £48 million mark.

The company continues to aim to reinvest 25% of its revenue back into the business, and in the last 12 months 10% was invested in a graduate placement scheme via what the firm called ‘a knowledge exchange and enterprise network programme’.

Employees: 7

Funds under advice (£m)

201420152016
263048

Total profits (£000)

201420152016
92125200

Percentage of recurring income (%)

201420152016
656565

Matthew Pescott Frost, Matthew Douglas, Nayland

Having made the leap from mortgage advice to holistic financial planning, Matthew Pescott Frost’s firm has been busy boosting its numbers this year.

Indeed, the firm has raked in another £35 million in funds under advice, taking its total funds under advice to £120 million. Pre-tax profits have likewise jumped from £300,000 to £400,000, with a turnover leap from £1 million to £1.2 million.

All that has happened without the addition of a single employee since the New Model Adviser® community last met for its annual conference and awards; the firm retains nine employees in total, four of whom are registered individuals.

Employees: 9

Funds under advice (£m)

201420152016
6585120

Total profits (£000)

201420152016
350300400

Percentage of recurring income (%)

201420152016
606567

Ian Pickford, Mazars Financial Planning, London

Ian Pickford has clearly been putting his firms discretionary authorisation to good use this year.

As head of the financial planning arm of this large accountacy and advice business, he has seen funds under advice increase from £405 million to £520 million.

Pickford has also brought in two registered individuals, bringing the business’s total number of registered staff from 16 to 18. This was part of a staffing drive that saw 10 further team members added, bringing total numbers to 64 in the last 12 months. Mazars’ financial planning arm has seen an accompanying £30,000 increase in pre-tax profits, from £1.5 to £1.8 million.

Funds under advice (£m)

201420152016
310405530

Total profits (£000)

201420152016
111214691779

Percentage of recurring income (%)

201420152016
485260

Paul Taylor, McCarthy Taylor, Worcester

McCarthy Taylor also features again in the New Model Adviser® Top 100 this year. Having taken the plunge to go discretionary in 2015, the firm hoped that reinvesting 10% of its revenue would allow it to boost its assets in 2016.

On that point the firm has certainly delivered, with a £15 million increase in assets under advice, which takes total funds under management to £160 million. The company says it has continued to invest between 10% and 15% of its revenue in developing new procedures to enhance the quality of its work, including extended use of forecasting tools for clients.

Employees: 24

Funds under advice (£m)

201420152016
135145160

Total profits (£000)

201420152016
7748110

Percentage of recurring income (%)

201420152016
909085

George Delaney, Metis Wealth, Haywards Heath

Metis Wealth clearly got its hands so full advising its barrister, solicitor and accountant clients as it had to increase its number of registered individuals in the last year by one. The addition of two other staff members has brought the team size to 14 in the last 12 months.

The firm, which was established in 2013, retains four chartered advisers, and has increased its funds under advice by £50 million to £300 million since last year’s awards.

The firm’s 2015 pre-tax profits came in at £620,200, while 2016 pre-tax profits were a notch higher at £850,000.

Employees: 14

Funds under advice (£m)

201420152016
150250300

Total profits (£000)

201420152016
289620850

Percentage of recurring income (%)

201420152016
909090

David Crozier, Navigator Financial Planning, Belfast

David Crozier’s firm hit the headlines months ago when it announced it had signed up for a new social investment service. ‘Worthstone’ will help advisers with due diligence on a range of social impact investments, so clients can help other people or communities.

In the last 12 months profits have risen from £62,000 to £85,000, while funds under advice have increased from £44 million to £60 million.

Crozier’s firm has also undertaken a range of sponsorship deals with local sports teams and charity events.

Employees: 10

Funds under advice (£m)

201420152016
354460

Total profits (£000)

201420152016
436285

Percentage of recurring income (%)

201420152016
959595

Adam Katten, NLP Financial Management, London

Keen cricketer Adam Katten donned pads for our photographers in 2012 when he became a New Model Adviser® cover star and his firm still seems to be hitting sixes.

Katten’s cricketing passion has given its marketing strategy some bounce, as the firm still holds a player sponsorship deal with a local club, but adverts in local newspapers, specialist medical publications and even the local GP surgery have also helped drive assets up from £335 million to £360 million in 2016.

The business has also put on an impressive array of events for accountants and introducers, and it will be no surprise that some have taken place at Lord’s.

Employees: 28

Funds under advice (£m)

201420152016
350355360

Total profits (£000)

201420152016
582575660

Percentage of recurring income (%)

201420152016
848585

Duncan Read, Oculus Wealth Management, Harrogate

The addition of two further advisers at Oculus Wealth Management in the last 12 months brings total staffing to 18, 10 of whom are registered individuals, while an accompanying rise in funds under advice in that period has furthermore seen another £50 million added to the company’s books, to total £300 million under management.

Managing director Duncan Read continues to invest more than 20% of the business’s money in human resources and IT infrastructure, which this year has seen the implementation of a new back-office system. He plans to build the business through organic growth and the addition of new advisers via an acquisition strategy.

Employees: 18

Funds under advice (£m)

201420152016
100250300

Total profits (£000)

201420152016
29548763

Percentage of recurring income (%)

201420152016
838380

Barry Horner, Paradigm Norton Financial Planning, Bristol

Paradigm Norton has made a number of changes since appearing in the New Model Adviser® Top 100 last year.

Most prominently, it has introduced a graduate scheme to encourage young people to join its award winning team.

As well as taking on graduates, the firm has hired five staff members over the last 12 months, and has set up a staff council which meets every quarter before board meetings.

The firm has increased its assets under advice from £453 million last year to £620 million this year. Meanwhile, recurring income grew from 93% to 94% over the same period.

Employees: 46

Funds under advice (£m)

201420152016
427453620

Total profits (£000)

201420152016
590710890

Percentage of recurring income (%)

201420152016
939394

James Roberts, Partners Wealth Management, London

Partners Wealth Management has set itself an ambitious target of reaching £2 billion in assets under advice over the next five years.

It has just over £1 billion of assets, compared with £863 million at this point last year. Partners wants to reach £1.2 billion over the next year, and plans to do this in part by recruiting five new advisers for its team.

The firm is also planning to grow its connections with other professional firm such as lawyers and accountants: it has taken on a new business development manager to boost its presence among such businesses.

Employees: 51

Funds under advice (£m)

201420152016
7508631040

Total profits (£000)

201420152016
140019002100

Percentage of recurring income (%)

201420152016
697480

Quentin McCormic, Pavis Financial Management, Liverpool

Pavis Financial Management saw turnover increase by 20% last year from £1 million to £1.2 million, and it expects to see a similar amount of growth next year.

The firm has also managed to increase its recurring revenue: in 2014 it was only 73%, but this rose to 82% last year and then again to 85% this year.

When it comes to engaging with clients, the firm has benefitted from hosting an annual conference for the last three years, and is redesigning its website to make it easier to understand.

Employees: 17

Funds under advice (£m)

201420152016
120130150

Total profits (£000)

201420152016
450374500

Percentage of recurring income (%)

201420152016
738285

Craig Palfrey, Penguin Wealth, Cardiff

This Welsh firm saw its pre-tax profit increase significantly in 2016, as it grew from £564,000 last year to £1.1 million.

Penguin set out its plan for growth, also known as the ’Penguin Plan’, last year and has so far seem success with the model.

The basis of the plan is to build a financial planning company where clients are not tied to a particular adviser, but to whoever is best places to deal with their query.

The firm has also attracted new clients by engaging with the community, and publishing a book called The Wealth Secret.

Employees: 11

Funds under advice (£m)

201420152016
8172110

Total profits (£000)

201420152016
5845641077

Percentage of recurring income (%)

201420152016
616149

Julie Wilson, Penlife Chartered Financial Planners, York

PenLife has tried to appeal to the locals with its strapline: ‘no nonsense straight talking financial advice from Yorkshire’.

The firm has tried to deliver this with a number of special events over the last year, including summits on the UK’s decision to leave the EU and a lunch to cover the Budget last March.

It is a company growing steadily, as assets under advice rose from £180 million in 2014, to £200 million in 2015 to £250 million this year.

The amount of recurring revenue has also grown in that period, from 58% in 2013 to 72% now.

Employees: 25

Funds under advice (£m)

201420152016
180200250

Total profits (£000)

201420152016
140200220

Percentage of recurring income (%)

201420152016
586872

Phil Billingham, Perceptive Planning, London

Phil Billingham is well known as a mainstay of the financial planning world, although he took a little bit of a back seat in 2016 after speaking to 3,000 advisers in seven different countries in 2015.

Relationships built on these trips have helped to develop Perceptive Planning’s ‘World Citizen’ service, which allows UK-based clients with assets abroad to link-up with planners in other countries.

Back at home, Perceptive continues to post impressive levels of recurring revenue: it recorded 96% in 2016, compared with 94% the previous year.

Employees: 6

Funds under advice (£m)

201420152016
273237

Total profits (£000)

201420152016
121163175

Percentage of recurring income (%)

201420152016
979496

Georgina Warwick, Petrus Financial Services, Windsor

Berkshire-based Petrus Financial Services is nearing the end of a five-year plan that it hopes will turn it into a bigger and better financial advice business.

The firm grew assets under advice from £155 million to £160 million in 2016, and turnover also grew from £1.45 million to £1.5 million.

While boosting turnover, Petrus Financial Services has cut cost: its annual costs are £975,000, compared with £1.1 million two years ago.

Much of this has been achieved by focusing on back-office technology.

Employees: 10

Funds under advice (£m)

201420152016
150155160

Total profits (£000)

201420152016
300450525

Percentage of recurring income (%)

201420152016
757575

Philip Milton, Philip J Milton, Barnstaple

Devon-based Philip J Milton moved to new offices in a Grade II-listed building last year, as it celebrated its 30th anniversary, but modernised it. The refurb explains the hit on profits.

The firm is still expanding though: it now employs 28 people, comparedwith 25 in 2015.

Emplyees: 28

Funds under advice (£m)

201420152016
116115120

Total profits (£000)

201420152016
308289-220

Percentage of recurring income (%)

201420152016
505355

Graham Prest, Prest Financial Planning, Stockport

Prest Financial Planning has always had strong family ties: managing director Graham Prest is running the same business his father did, meaning the firm has been going for 55 years.

He also has an eye on the next generation, as daughter Hayley Prest is a paraplanner at the firm.

Employees: 23

Funds under advice (£m)

201420152016
270295320

Total profits (£000)

201420152016
650700800

Percentage of recurring income (%)

201420152016
807878

John Hamilton-Hunt, Punter Southall Financial Management, London

Punter Southall Financial Management has recently developed two service levels for clients. The first is targeted at clients with more than £250,000 of assets, or with more complex advice needs. It offers regular face-to-face meetings and updates from a single adviser.

The other service, known as the primary service level, is designed for those with less to invest. The main difference is that the client is served by a team rather than a single adviser.

Employees: 79

Funds under advice (£m)

201420152016
150016001700

Total profits (£000)

201420152016
5339011300

Percentage of recurring income (%)

201420152016
768085

James Priday, Prydis Wealth, Exeter

Prydis Wealth has overcome hurdles this year, coping with the sudden passing away of its pension director Scott Harrison. Such was his contribution, says managing director James Priday, the firm had to hire two more advisers to fill his shoes.

One of Priday’s most notable ventures is online direct-to-consumer investment platform Strawberry Invest, which has £24 million of assets under management.

Employees: 19

Funds under advice (£m)

201420152016
125150175

Total profits (£000)

201420152016
130264312

Percentage of recurring income (%)

201420152016
556065

Gordon Hay, Redbourne Wealth Management, Bromsgrove

Bromsgrove-based Redbourne Wealth Management increased its assets under advice in 2016 from £156 million to £192 million. This helped its turnover grow to £1.2 million.

The company invests a lot of this turnover into training and retaining staff, hence why pre-tax profit was £200,000.

The next step for the firm is to grow its assets past £225 million and turnover to £1.25 million. Redbourne Wealth Management intends to do this by adding an additional adviser.

It will also push all staff towards passing exams with professional body the Chartered Insurance Institute.

Employees: 8

Funds under advice (£m)

201420152016
145156192

Total profits (£000)

201420152016
145170200

Percentage of recurring income (%)

201420152016
727579

Matthew Clark, Seabrook Clark, Exeter

Seabrook Clark obtained discretionary permissions over the last year, and it looked to expand its business by taking on two advisers and two members of support service staff.

Part of its plans were shaped with a government grant given to small businesses to help them work with business consultants.

The firm increased assets under advice from £33.5 million in 2015, to £40 million in 2016.

This steady growth has been met with a rise in turnover to £420,000 in 2016, compared to £366,000 in 2015 and £296,000 in the 2014.

Employees: 5

Funds under advice (£m)

201420152016
233340

Total profits (£000)

201420152016
5587170

Percentage of recurring income (%)

201420152016
586775

Richard Skerrit, Skerritts Consultants, Hove

Skerritts Consultants is working towards a target of £1 billion assets under advice. The single biggest contributing factor to its client growth effort is its increased work with professional connections which act as client introducers.

To greet the new clients coming through the door Skerritts had this year added further advisers. The client base has been widened and heightened with top ‘elite’ clients offered a private banning service from Handlesbanken, while offering a simple service to smaller clients.

It would be remiss not to mention managing director Richard Skerritt’s own charity contribution this year, a white-collar boxing match. He won.

Employees: 54

Funds under advice (£m)

201420152016
525610750

Total profits (£000)

201420152016
123114201500

Percentage of recurring income (%)

201420152016
889696

Adam Pollard, Sound Financial Management, Plymouth

Sound Financial Management, led by managing director Adam Pollard, is surfing high on a combination of acquisition, staff progression and strategic partnerships. Sound this year moved offices to Plymouth’s city centre and, interestingly, shares its office space with another financial planning firm, Hudsons.

Hudsons provides cashflow planning services to some Sound clients while Sound deals with investment and pensions arrangements for Hudsons’.

Team members are climbing the qualifications ladder, with chartered adviser Simon Lake getting fellowship of the Personal Finance Society.

Employees: 19

Funds under advice (£m)

201420152016
200250280

Total profits (£000)

201420152016
395770850

Percentage of recurring income (%)

201420152016
464547

Mark Hibbit, Sovereign Independent Financial Advisers, Bristol

Sovereign has this year recruited both young and experienced advisers to its growing team. It is perhaps odd that the recruitment of a female adviser under 30 is noteworthy, but as New Model Adviser® has written before, there is a real need for new blood to enter the profession and it is great to see a firm contribute to that.

The other side of the coin is that this year one of the firm’s founding directors left the business, with a transition plan that will see him retire in two years’ time while clients are handed over. It is also on the acquisition trail.

Employees: 12

Funds under advice (£m)

201420152016
394554

Total profits (£000)

201420152016
179201145

Percentage of recurring income (%)

201420152016
635353

Kevin Forbes, Strategic Solutions Chartered Financial Planners, Poole

Strategic Solutions aims to recruit four apprentices in the next 12 months. It is also continuing local schemes such as speaking at schools about personal finance and talking to the members of the local football team about managing their money.

These ‘intangible’ contributions are on top of a multitude of positions held at the Personal Finance Society over the years. The firm has also launched a discretionary fund manager venture.

Next year it is aiming for staff to gain more qualifications and for the firm to perform more specialist work.

Employees: 2

Funds under advice (£m)

201420152016
165225265

Total profits (£000)

201420152016
501649804

Percentage of recurring income (%)

201420152016
546565

Andrew Reeves, The Investment Coach, Wellingborough

There has been a big emphasis this year on technology at The Investment Coach, using it to find clients (through the likes of VouchedFor) and refine its service.

Clients have enjoyed a more streamlined review process and greater level of communication from the advice firm over the last year. In fact it has invested 25% of its revenues back into IT.

Director Andrew Reeves' love for machines extends beyond software though, as the firm this year is sponsoring an attempt by the Bloodhound SC team to match or exceed 1,000 miles per hour, thereby achieving a new world land speed record.

Employees: 5

Funds under advice (£m)

201420152016
152025

Total profits (£000)

201420152016
507090

Percentage of recurring income (%)

201420152016
405565

Ruth Sturkey, The Red House Consulting, London

Managing director Ruth Sturkey proved a popular New Model Adviser® cover star this year.

While her firm is often known best for its high-profile clients, such as singer/songwriter Peter Gabriel, it has the soundest of propositions to back this up. Most clients receive the fully fledged financial planning and wealth management service but Red House is developing a light service for younger clients, in particular entrepreneurs who could be business stars of the future and with whom the Red House wants to establish a long lasting relationship.

The firm has already hired extra advisers whose job, in part, is to seek out these target young clients.

Employees: 8

Funds under advice (£m)

201420152016
8391110

Total profits (£000)

201420152016
329354240

Percentage of recurring income (%)

201420152016
858884

Darren Lloyd Thomas, Thomas and Thomas Financial Services, Haverfordwest

Darren Lloyd Thomas, managing director of Thomas and Thomas is a familiar face to many advisers. Over the last two years he has been training young post-graduate recruit Katy Owen, who this year acquired her diploma status, allowing her to advise some clients and free up Thomas for business growth. While Thomas and Thomas has thrived off its strong standing in its local community it is investing in innovation too, and has seen momentum build around its ethical investment proposition.

It also has one eye on the possibilities of robo-advice. If there is one thing you can say about Thomas, it is that he never stays still!

Employees: 3

Funds under advice (£m)

201420152016
253135

Total profits (£000)

201420152016
135188210

Percentage of recurring income (%)

201420152016
919191

Steve Straw, Thompson & Richardson, Lincoln

Thompson & Richardson is preparing well for the future of advice with a graduate training programme linked to local Lincoln University, and a technology-based proposition in the works. The firm is already progressing its own staff, dovetailing experience with different service levels allowing clients to pay less for a simpler proposition looked after by a younger advisers.

Indeed the firm is investing significantly into recruitment. While it has established a solid base of recurring income from existing clients, business growth is top of the agenda.

Employees: 14

Funds under advice (£m)

201420152016
677485

Total profits (£000)

201420152016
213206280

Percentage of recurring income (%)

201420152016
264255

George Critchley, True Bearing, Chorley

This year was True Bearing’s 13th year in business; lucky for some! True to its name the business is heading in the right direction. The firm has in 2016 seen turnover increase significantly and profits, appointed a marketing manager and created a junior management team, hired extra support staff and launched a brand new legal services function.

The firm has three client segments, with fees based on the services required. Chairman George Critchley has stepped back from giving advice.

Employees: 58

Funds under advice (£m)

201420152016
207241307

Total profits (£000)

201420152016
273889

Percentage of recurring income (%)

201420152016
505253

Martin Hill, TWP Wealth, Alderley Edge

TWP Wealth has had a tumultuous year following the sudden departure of director David Otway, but has come out the other side with two newly promoted directors looking to take the firm forwards.

In April TWP completed the acquisition of another advice firm adding £28 million of assets, bringing the firm’s total this year to £150 million. A joint venture with a local solicitor firm is also bearing fruit for the business. Next year being yet more change, with plans to review the entire service proposition and re-launch the firm’s website and marketing strategy. It also plans to increase its activity in the later life advice space.

Employees: 16

Funds under advice (£m)

201420152016
93110150

Total profits (£000)

201420152016
320369400

Percentage of recurring income (%)

201420152016
656965

Paul Lothian, Verus Wealth, Dundee

Two years on from his split form co-director Jonathan Gibson, Paul Lothian, director of Verus Wealth has grown funds under advice to £82 million, above the level they were before Gibson’s departure. The firm is making more profit than it was back then too.

Helping this year was the recruitment of an adviser to join Lothian, in May. The hire will enable Verus to target new client growth, something Lothian said it has been unable to do since 2014.

Former PFS president Lothian originally had ambitions to become a musician. Before he could be discovered, he followed his parents into the insurance business.

Employees: 5

Funds under advice (£m)

201420152016
807582

Total profits (£000)

201420152016
172188180

Percentage of recurring income (%)

201420152016
909090

Ken Welsh, VWM Wealth, Glasgow

In 2011 VWM managing director ken Welsh made tough choices. Recognising the firm was not working he got rid of eight out of his 10 staff and hired the services of consultant Brett Davidson, director of FP Advance, to overhaul the business.

The work has paid off and the firm will hit £200 million under advice this year, up from £75 million in 2014. VWM does not segment among its 75 clients, instead it has a clearly defined ‘floor limit’ for new clients of £500,000.

Evidence of Davidson’s influence is in VWM’s objective of making clients into ambassadors for the business.

Employees: 8

Funds under advice (£m)

201420152016
7586120

Total profits (£000)

201420152016
314381589

Percentage of recurring income (%)

201420152016
928286

Tony Byrne, Wealth and Tax Management, Milton Keynes

Tony Byrne, managing director of Wealth & Tax Management parked himself on the New Model Adviser® front cover sporting a Tesla electric car, in 2015. In the intervening 12 months the firm has seen profits dip as Byrne bought out his long-term business partner Roger Prest. This also resulted in technical manager Carl Roberts being promoted to director.

In 2015 the firm moved to outsource portfolios to Parmenion, explicitly in a bid to reduce client fees which are charged as a mix of flat rate for initial work and a percentage for implementation.

Fittingly for the Tesla fan the firm’s future plans involve robo-advice and a technology fund.

Employees: 8

Funds under advice (£m)

201420152016
405060

Total profits (£000)

201420152016
27777400

Percentage of recurring income (%)

201420152016
808080

Julian Gilbert, Wealth Matters, Harpenden

The firm grew assets and recurring income last year, as it said it would last year, but profits have dropped. One reason is because of investment into its staff training and development, as well as bringing on board a trainee who will be trained up through from paraplanner to adviser.

This year it will press ahead with an acquisition, after a long process of searching for the right firm. This will also dent profitability but the firm hopes the deal will pay dividends in the future.

To top it all the firm has overhauled its approach to marketing, overhauling its website and client communications.

Employees: 11

Funds under advice (£m)

201420152016
134144194

Total profits (£000)

201420152016
808942775

Percentage of recurring income (%)

201420152016
858592

Duncan Glassey, Wealthflow, Edinburgh

The year 2017 will mark 10 years of Wealthflow and director Duncan Glassey is planning on celebrating a decade of 100% client retention too.

Never one to stand still Wealthflow has undergone two significant developments over the past 12 months. It engaged a philanthropy consultant and will next year launch a specialist philanthropy service.

It will also add to its 2015 joint venture with a law firm with a second solicitors tie up.

This project will also focus on Wealthflow’s niche of advising families with specialist care needs as a result of medical negligence or catastrophic injury.

Employees: 5

Funds under advice (£m)

201420152016
100120130

Total profits (£000)

201420152016
500450500

Percentage of recurring income (%)

201420152016
100100100

Alistair Cunningham, Wingate Financial Planning, Caterham

The ambitious Wingate Financial Planning has continued to follow its own financial plan with a rigorous set of business development objectives. The firm has implemented leadership training and better management information collection. It has also engaged external consultants to help it drive fee transparency.

While all this has been going on funds under advice have kept on track, increasing to £170 million in 2016 from £140 million last year. One specific goal for the next year is to add 90 new clients.

Employees: 20

Funds under advice (£m)

201420152016
100140170

Total profits (£000)

201420152016
45161110

Percentage of recurring income (%)

201420152016
627977

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