Tuesday, 03 July 2018 09:28

Financial Planning firm boosts profits by 39%

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Harwood Wealth Management Harwood Wealth Management

Financial Planner and wealth management firm Harwood increased profits by 39%, interim results for the six months ended 30 April 2018 have revealed. 

Profits jumped from £4.9m in the first half of 2017 to £6.8m in the same period this year.

Assets under advice were boosted by £1bn, from £3.3bn to £4.3bn, and revenue rose 44% from £10.5m to £15.1m.

During the period the firm also completed nine acquisitions for £10.9m and the company said these were “on a larger scale than those executed in previous years.”

 

Peter Mann, chairman of Harwood Wealth Management Group, said: “The first half of the year has seen substantial progress, with the group delivering profitable growth across all its divisions, achieved in line with our clear growth strategy.”

Commenting on the firm’s acquisitions this year Mr Mann said they were “important not only in boosting our earnings but also building the group's capabilities and driving future growth.”

He added: “To date, all companies acquired have integrated well and are performing as expected.
 
“Through maintaining the highest levels of service to our clients, providing advice and solutions truly appropriate to their needs, the group continues to build on its strong client relationships as well as attracting an ever-increasing number of external mandates.
 
“The group's growth strategy remains appropriate to the market place we serve today, as demonstrated by the strong results achieved thus far and continued momentum into the second half.

“With strong visibility on revenues and an excellent pipeline of acquisition opportunities available to us, we look forward to the remainder of the year and beyond with confidence.”

 

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