Rising profits for financial advisors

Chase de Vere, a national firm of independent financial advisers with offices in Leeds, has announced its best ever financial results.

The company has reported increased turnover, profitability and client satisfaction in its Annual Report & Financial Statements for the year ending 31 December 2019.

Its results include pre-tax profits of £13.08m in 2019 (£10.62m in 2018), the firm’s sixth consecutive year of profitability.

Over the same period company turnover increased from £68.48m to £72.49m.

Chase de Vere says its focus on client service was evident as the country went into lockdown in March.

It notes that its business continuity plan meant all employees were quickly and effectively set up to work from home.

Stephen Kavanagh, chief executive, said: “2019 was another great year of progress for Chase de Vere. We have increased profits, developed and formed new affinity relationships, particularly related to the Medical and Dental professions, and have improved the satisfaction scores from our clients.

“I am particularly pleased with the contribution made by the employees who joined us from Medical Money Management, which we acquired in October 2017, and am delighted that we acquired Ferguson Oliver, an Independent Financial Advice firm based in Angus, in October 2019.

“The Coronavirus has overshadowed businesses in 2020 and we have revised our forecasts accordingly.

“Our financial strength, and our supportive parent company, means we remain in good shape and we have, for example, not furloughed any of our employees.

“I am incredibly proud of how well our employees have adapted to remote working and how they have continued to provide an exceptional service to our clients throughout these challenging times.”