Financial advice network Openwork has achieved a seventh year of profit growth, with pre-tax profits hitting a new record of £22.6m, enabling the business to pay its first ever dividend to shareholders.

Cost cutting helped Mattioli Woods maintain modest profit growth over the past 12 months in the face of market challenges.

Aviva’s platform business was said to have maintained “healthy net fund flows” in a challenging climate.

Smith & Williamson, the financial and professional services group, has announced boosted funds and profits in a “solid” performance for the year ended 30 April.