Independent financial adviser Bradbury Hamilton has seen its turnover increase 42.2 per cent to £2.25m for the 12 months to the end of September, largely driven by its acquisitions.
In its annual results, the London-based chartered financial planners revealed a pre-tax profit of £290,000 in this period compared to £25,980 in the previous year.
Bradbury Hamilton said it saw the introduction of the Retail Distribution Review as an opportunity to acquire client banks from business owners no longer wishing to continue under the revised rules.
The company made seven acquisitions during the trading period in a series of deals that has added “significantly” to the company’s income and profitability during the period.
Sheriar Bradbury, managing director, said: “We are thrilled to report such robust figures for the year. Bradbury Hamilton’s performance over the course of the 12 months reflects the solid progress we have made towards growing the business.
“We continue to work hard to provide clients with high quality, consistent and comprehensive advice and would like to thank them for their unwavering support and recommendations. As we look ahead to the rest of the year, we are encouraged by our achievements to date and believe the environment promises lots of exciting opportunities for us.”
Bradbury Hamilton is actively pursuing further acquisitions in the market and is currently assessing opportunities in the Midlands.
Looking ahead, Mr Bradbury believes the distinction between those companies faring well and those struggling in the wake of the RDR changes will become much more defined.
He said: “One of our strengths lies in our ability to convert traditional commission into ongoing fees. Those who are unable to do so will very much struggle going forwards and I expect we will see further firms drop out of the market.”
