Former managing director and founding partner John Stevenson MBE will remain with the firm to focus on strategy and growth. He was recognised for his support of cancer charities with an MBE in the Queen’s New Year Honours list.

Other recent senior appointments include Nicky Aspray as operations director and Chris Romain as finance director.

Mr Stones has worked in financial services for 30 years, 11 of which have been at Pareto. He has been promoted from head of client services and a board director, both roles which he had held since 2017.

Mr Stones will manage the day to day operations of Pareto as well as heading up key relationships with intermediaries and clients.

He said: “The past 12 months have been particularly challenging for everyone, but our operational resilience has allowed us to emerge in a position of strength well placed to manage any ongoing impacts and to support our future growth.

“Our investments in talent and technology have set out an exciting course for the year ahead. I am thrilled to take on this new position and am looking forward to the challenge of achieving the next steps in Pareto’s growth.”

Pareto recently released their financial year-end statement announcing an increase in turnover to £5.4m with assets under management now standing at £935m.

For 2021 Pareto are concentrating on expanding their relationships with strategic partners, focusing on working with accountancy practices as introducers, and growing adviser numbers.

North-west-based Pareto Financial Planning has almost £800m under influence on behalf of a range of private and corporate clients.