Adviser and SIPP provider Mattioli Woods said the acquisition of Kudos Independent Financial Services 12 months ago helped boost its full-year wealth management revenues by almost 50%.
The group said wealth management revenues were £6.62m in the 12 months of 31 May, compared with £4.49m a year ago, an increase of more than 47%.
Wealth management now represents a third (32.3%) of total group revenues, an increase on last year (29.2%), it said.
Mattioli Woods acquired TCF Global Independent Financial Services and its subsidiary, Kudos Independent Financial Services, in a deal worth up to £8.69m in August 2011.
Across the group, revenues were up 33.3% to £20.48m, with income from its core business line, SIPP and SSAS provision and administration, contributing 40%.
Adjusted profit before tax was up 2.2% to £5.06m in the period.
The group said it would provide restricted advice on its SIPP and bespoke investment products, and may look to expand this into other product areas.
"We have developed our RDR plan over the last 24 months, taking into account that we are the provider of our own SIPPs and an investment adviser with a number of our own bespoke investment products," it said in a statement.
"We will provide restricted advice in relation to these products and may provide restricted advice in other areas, as increasingly we become provider and adviser.
"The interpretation of parts of the RDR rules continues to be discussed within the industry and we have built flexibility into our plan, bearing in mind some commentators' speculation that further changes may be applied to the rules."
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