DFM Thomas Miller losses deepen to £574k

The boutique, part of the Thomas Miller Holdings group, posted a pre-tax loss for full year 2013 of £574,655, down from a loss of £378,997 the previous year. Turnover increased to almost £4.3m, from £4.1m, in the period. The company attributed the loss to investment in the infrastructure of the business, as well as to growing the private investment element of the proposition and raising its profile. The business offers discretionary investment management services to private clients and institutions as well as model portfolios for financial advisers' clients.