Highlights:
Turnover increased by 40% to £7.371m (from £5.277m)
Profit up by +45% to £1.681m (from £1.161m)
AUM increased by +69% (£1.705bn at end March 2015)
Operating profit up by +29% to £2.122m (£1.647m)
Staff numbers rise by +60%
Richard Mein, chief executive of Parmenion, commented:
“It’s been yet another fantastic year of growth for us. Against a background of considerable change in the Adviser landscape, our ability to create the services needed by modern adviser businesses continues to drive our success. Building innovative technology is an exciting place to be at this time”.
In January of this year, Parmenion was included within the FinTech 50 list for 2015. The FinTech 50 recognises the hottest 50 companies in Europe who are transforming the future of financial services through technology.
Over the last year, Parmenion has brought on stream several large scale technology projects which have been developed entirely in-house. These include the UK’s first automated advice technology, an in-house SIPP and a redesigned Adviser website. Parmenion’s technology focusses on supporting Advisers by providing appealing client journeys that deliver consistent investment outcomes, while at same time reducing the cost to serve.
Richard Goodall, Partner and Head of Distribution at Parmenion, commented:
“Increasingly Advisers are recognising the value and power of our integrated approach. By owning and controlling the three most important components behind an Adviser’s investment proposition, discretionary investment management, custody services and technology, we are able to bring big efficiency gains to Advisory businesses.”.
Richard continued:
“Advisers need to make the business of providing financial advice as efficient, uncomplicated and as error free as possible. Our integrated approach keeps Advisers in control and provides ease in processing applications from start to finish”.