National IFA Continuum has seen a 37 per cent uptick in its operating profit over the past six months after it saw a number of clients join having been underserved by other advisers.
Managing partner at Continuum, Martin Brown, said there had been a “notable”, “steady flow” of prospects coming to its advisers due to these clients “not receiving adequate contact or support from their existing adviser”.
Brown added in an announcement today (July 13): “The cost-of-living crisis is offering us the opportunity to prove our worth as financial planners, going beyond our day-to-day advice roles to really support our clients when they need us the most.”
He said during the height of the pandemic, clients were also migrating to the firm for the same reason.
“Clearly, support and regular reassurance in the tough times can really set a good adviser apart from the pack from a client perspective.”
The firm also credited growth to its income from a partnership with network 2020 Accountancy, which jumped by a quarter (26 per cent) over the same period.
Its partnership sees Continuum supply wealth management and mortgage advice to the accounting network’s business clients - of which there are some 5,000.
During the last six months, five new advisers have joined the partnership, as well as a number of paraplanning and support staff, it said.
Continuum said it expects “record numbers of advisers” to join the partnership in the second half of this year, in line with its broader growth plans.
Assets under influence rose by 17 per cent to £1.53bn for the half year ending June 30, 2022. Ongoing recurring income was also up 31 per cent.
“Demand for advice is rising, and this combined with enquiries from a number of high-quality advisers looking to join the partnership means the market is really opening up for us,” said Brown.
“Advisers are coming to us looking for someone to work with that will enable them to grow their business, with the same dedication to customer service and quality advice which they have built their businesses upon.
“This half we have seen direct client enquiries rise significantly, due to our market-leading client feedback scores and digital marketing efforts.”
ruby.hinchliffe@ft.com
