Aim-listed specialist advice provider Frenkel Topping boosted profit for 2014, with its chairman revealing future growth plans across the UK.
Chairman David Southworth said: “In 2015 we expect to increase the number of fee-earning consultants from 14 to 16.
“We also plan to develop a stronger network around key regional cities, not only in Manchester, where we already have a very strong base, but also in and around Birmingham, London, Bristol and Cardiff.”
He was speaking on the release of final results for the company, which revealed profit and total comprehensive income of £1.36m, up from £1.1m in 2013.
Mr Southworth claimed that while the company’s 2014 results had been “solid”, he believed there was an opportunity to invest now and deliver accelerated growth from 2016.
Other companies providing advice or investment services have also revealed their results.
In February, the 26-page document Hargreaves Lansdown plc: Interim Report and Condensed Consolidated Financial Statements Six Months Ended 31 December 2014, revealed that the FTSE-listed company increased its total assets under administration from £43.4bn the previous year to £49.1bn.
The company also saw its pre-tax profit fall from £104.1m for the unaudited six months ended 31 December 2013 to £101.9m for the same period a year later.
Chief executive Ian Gorham said: “Revenue was improved by additional clients, assets and growth in our multi-manager funds.”
He said this growth was tempered by the effect of lower interest rates on client cash and reduced revenue on client fund assets held on the Vantage platform, which was as a result of the reduced charges for clients introduced in March 2014.
In the same month, in the 81-page Announcement of Annual Results for the Year Ended 31 December 2014, FTSE-listed wealth management group St James’s Place revealed profit before shareholder tax of £182.9m.
This compared with £190.7m in 2013, £134.6m in 2012, £109.7m in 2011 and £84.2m in 2010.
Paul McGinnis, research analyst for Shore Capital Markets, said: “The more localised presence for Frenkel Topping will progressively build a book of recurring investment revenues, which we expect to become evident in 2016 and show a very visible profit uplift in 2017.”