Tilney Bestinvest has posted a profit of £17.6m for 2015, the first full year of trading since the merger which created the company.
Tilney and Bestinvest came together in August 2014, with assets under management rising 4.5 per cent to £9.4bn last year.
Overall staff costs increased 17 per cent because of the company’s expansion programme, which saw its adviser headcount increase by 20 per cent, through both recruitment and a transaction with Webb Holton.
Chief executive Peter Hall said the business expects these investments to accelerate organic growth in 2016 and beyond.
“Our investment performance has continued to be very good, organic growth has been strong and we have been investing for the future which will enable us to further enhance the service we provide to clients and accelerate future growth.
“Our performance in 2015 is a great platform to build on in 2016, with the recently completed acquisitions of Ingenious Asset Management and of the Towry group, which is subject to FCA approval and expected to complete in the second half of the year.”
The £600m deal for Towry will mean the combined company will have 240 financial planners and 120 investment managers, operating from over 30 locations across the UK, while the Ingenious acquisition boosted assets past the £11bn mark.
Mr Hall said: “Both Tilney Bestinvest and Towry have made strong progress in recent years on a standalone basis but together the combination will be transformational.”
He added the “resilient performance” was underpinned by a combination of £630m of net new assets, representing 7.2 per cent growth on opening assets, as well as strong relative investment performance across managed portfolios compared to peers.
