Corporate advisory firm sees profits rise

PRE-tax profits at Chase de Vere, which has an office in Leeds, increased by 34% year-on-year, from £4m to £5.4m in 2015.

Fee income also grew from £48m to £49m for the year to December 31 2015, and average fee income per adviser increased from £205,000 to £216,000.

Stephen Kavanagh, chief executive, said: “Our 2015 performance is very pleasing and represents another year of positive progress for our company.

“While most other larger advice firms, and now a growing number of smaller firms, are choosing to give restricted advice, we remain wedded to independence. I strongly believe that clients are better served with independent rather than restricted advice and that the very best advisers want to be independent rather than limited in the scope of advice they can give.

“I see further opportunities for expanding both our private and corporate advice services, due in large part to a reducing supply of independent advice on the market. We are using this foundation to grow our business organically and also by hopefully persuading like-minded, service-focused, good quality advisers and adviser firms to come and join us.”

He added: “We are a strong, robust and profitable company with our focus on providing high quality advice and service to our clients and, with most larger firms now giving restricted advice, we are aiming for Chase de Vere to be the flag bearers of independent financial advice in the UK.