AWD UK, which now encompasses AWD Chase de Vere alone, turned a profit last year for the first time since 2006 following a restructure of the business.
AWD Group says its UK business generated revenue of €43m (£38m) last year and earnings before interests and taxes (EBIT) of €1.2m (£1.06m).
This followed losses totalling €7.9m (£7m) in 2008 - when AWD Chase de Vere was fined £1.12m for "serious failings" on its pension advice and sales - and a loss of €3.5m (£3.1m) the year before that. The company generated a profit of €3.7m (£3.3m) in 2006.
AWD Group, which posted operating profits of €12.6m before one-time and restructuring expenses totalling more almost €54m in 2009, says the UK was "particularly" hard hit by the banking crisis in 2009.
It says the implementation of regulatory requirements and the worsening of the economic and industry environment were the main reasons for the realignment of AWD UK, which completed last year.
The restructure involved the sale of mortgage consultancy Home Finance, adviser firm Read and a corporate services business. AWD UK also offloaded its online price comparison service, AWD Moneyextra.
Earlier this month, AWD Chase de Vere CEO Stephen Kavanagh told IFAonline the business is set to announce an overhaul of its remuneration strategy in a bid to boost its adviser base by 15%.
Advisers' base salaries will at least double, Kavanagh said, while bonuses will be more closely linked to what it calls "assets under influence" (AUM) and recurring revenue business.
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