Network Sense has seen its pre-tax profit jump by 53 per cent to £647,000 on the back of a 37 per cent increase in turnover to £18.7m, for the 12 months to the end of May.
Sense’s financial results, published today (30 September), also revealed the number of advisers at 31 May 2014 had increased by 13 per cent over the year to 198.
Tim Newman, Sense’s managing director, said: “Sense and its members were early adopters of the principles and practices of the RDR.
“The investments that we have made are now yielding fruit as our members have seen demand for high quality, service oriented financial planning increase post-RDR.”
In contrast to peers such as Sesame, which have sought to de-risk their businesses by going ‘restricted’ and limiting product choice and in the process shed a number of advisers, Mr Newman emphasised Sense’s commitment to independent advice.
“In a world where complexity increases daily, we passionately believe that clients need professional advice to ensure that they make the right decision about their financial futures.
“We firmly believe that independent advice still represents the very best choice for clients.”
