IFG Group, the firm which owns SIPP provider James Hay Partnership and IFA firm Saunderson House, has announced 2011 profits of £12.2m.
The preliminary results come as the group signed a £70m deal to sell to private equity firm AnaCap its international division, which comprises its trustee and corporate services in Jersey, Cyprus, Switzerland and the Isle of Man.
IFG Group's operating profit grew over 2011 to £12.2m, up from £3.8m in 2010. Its share price doubled to 8.38p, from 4.04p in 2010.
James Hay's assets under administration grew to £14bn, with the firm adding 2,150 more SIPPs to its book to bring the total to 38,289.
Saunderson House's assets under administration and advice grew to £3bn, with advisory profits up by 30% on 2010's figures, the group announced.
In September 2011, IFG rejected a buyout offer from private equity firm Bregal Capital due to "current dislocation in the global markets".
IFG International is a fiduciary company offering trading, financing, employment and consultancy services, remuneration planning, intellectual property valuation, investment and property holding, private trust companies and family office services.
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