Succession unveils DFM plans as platform profits rise to £1.4m

clock

Succession Advisory Services is set to apply for discretionary permissions as the company looks to extend its offering.

The platform and consultancy business, which has reported profits of £1.4m for 2014, said it plans to apply to become a discretionary fund manager (DFM) within the next 12 months. Announcing its 2014 full-year results, the group, which is majority owned by private equity group Inflexion, posted pre-tax profits of £1.4m, up from £384k the previous year. This was based on revenues of £6.26m, which were 24% higher than the £5.1m recorded in 2013, the company said. Funds under management rose from £1.6bn in 2013 to £2.1bn last year. Succession to launch 'lite' version of platform for s...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Advisory

Transact co-founder and former CEO Ian Taylor dies aged 58

Transact co-founder and former CEO Ian Taylor dies aged 58

Died after a short illness

Jenna Brown
clock 19 October 2022 • 1 min read
The Big Interview: TJ&P's Tim Whiting on becoming the 'One Ham Yard' of London IFAs

The Big Interview: TJ&P's Tim Whiting on becoming the 'One Ham Yard' of London IFAs

Company launched in 1995

Lauren Mason
clock 06 April 2022 • 5 min read
Kingswood acquires South Yorkshire IFA in £1.5m deal

Kingswood acquires South Yorkshire IFA in £1.5m deal

UK assets hit £6.3bn

Jenna Brown
clock 26 January 2022 • 1 min read
Trustpilot