Succession saw its operating losses fall by more than £1.5m during 2017.
The consolidator's holding company posted reduced losses of £329,000 compared with £2m for 2016.
Succession Holdings' turnover increased by 59 per cent to £57.7m but costs increased significantly, from £38m to £58m, which the company attributed to the investment it was making in its operational systems.
The company stated: "The continued investment in operational infrastructure and the associated costs weigh heavily on the results of the group.
"However, as business scale has increased, efficiencies are being made and it is expected that operating profit margins will improve as the group moves to the next stage of its business plan.
"During 2017 the number of financial planners increased from 112 to 169 within the Succession group of companies. This investment provides a strong platform to manage the significant expected future growth of the advisory business."
Succession's initial business plan was to make 50 acquisitions by the end of 2018 and to date there have already been 47 deals resulting in the purchase of 52 separate companies.
Turnover for the company's advice arm increased by 71 per cent to £45.3m during 2017, with operating profit increasing to £3.4m.
Succession posted exceptional items of £619,000, which included "costs incurred in relation to claims and disputes" of £569,000, which was reduced from £606,000 in 2016.
With these exceptional items and amortisation stripped out, the company posted an increased profit of £6.4m.
Succession revealed its regionalisation programme has been completed with the creation of 12 regional hubs and the roll-out of the Succession Connect software.
damian.fantato@ft.com
