National advice firm Chase de Vere has seen its profits fall slightly to £5.68m during 2017.
The company said this was its fourth consecutive year of profitability, with profits of £5.77m in 2016.
Chase de Vere reported its fee income revenue increasing from £51.8m to £57.4m.
Stephen Kavanagh, chief executive of Chase de Vere, said: "This was another excellent year for Chase de Vere. We have achieved profits in excess of £5m, while integrating our first major acquisition following the purchase of Medical Money Management and successfully upgrading our back office systems. Both of these initiatives should help us to deliver significantly increased profitability in the future.
"We have increased our fee income revenue and the productivity of our advisers and we have many opportunities for further growth in 2018 and beyond. This includes the development of existing and new affinity relationships and an increased focus on the advice services we provide for the medical profession.
"We have achieved this success while remaining committed to independence. In an environment where many other larger advice firms have chosen to give restricted advice, we remain committed to providing independent financial advice and putting our clients’ interests at the forefront of everything we do."
The acquisition of Medical Money Management was announced in September 2017 and added 30 financial advisers to Chase de Vere's roster.
Chase de Vere also changed its back office systems during 2017 as part of a review of the company's infrastructure.
Costs of sales increased during 2017 from £30m to £34m.
damian.fantato@ft.com
