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Saunderson House marks RDR by bagging 43 clients
by Dylan Lobo on May 17, 2013 at 08:01
Saunderson House marked the introduction of the retail distribution review (RDR) by adding 43 clients in the first quarter.
Given the wealth advisory firm, led by Tony Overy, added a total of 100 clients in 2012, this represents a good start to the year.
In a brief trading update, its parent IFG Group said the division continued to ‘deliver a solid performance with Q1 revenue and operating profit ahead of the prior year'.
As a pure fee-based advisor, Saunderson House generates revenue on a time-charged basis with targeted recovery rates of billable hours of greater than 80%, which it said was achieved throughout the quarter.
IFG said the RDR did not require Saunderson House to make any major changes to the way it operates.
‘With an open and transparent advice proposition in place for many years, the introduction of the retail distribution review did not necessitate any fundamental change in the business model,’ the firm told the stockmarket.
It added: ‘We have plans underway to grow the business through people development and streamlining IT and operations.’
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