National IFA 2plan has reported record turnover for the first few months of 2013, after posting its first-ever net profit in 2012.
The Openwork-owned business saw turnover hit a record £1.87m in May 2013, exceeding April's previous high of £1.73m.
Year to date, turnover stands at £7.84m, almost 40% ahead of the equivalent period in 2012 when it totalled £5.65m.
The strong performance comes as 2plan wealth management, which has around 300 advisers around the UK, has confirmed that it made a net profit of £3m in 2012, from turnover of £15m. In 2011, its turnover stood at £11.5m.
The IFA firm said its strong control of overheads and continued investments in technology, including the development of bespoke software, have contributed to its performance.
However, 2plan chief executive Chris Smallwood (pictured) said the business's decision to focus on adviser charging at an early stage of the process to achieve RDR readiness is the key reason for its strong growth in 2013.
"Our strategy from the start was to work with our advisers to charge clients a fair upfront fee for work completed and then to focus on an on-going service proposition.
"The aim was to transform the way advisers worked with their clients at the same time as they studied for their qualifications, enabling us to hit the ground running when the RDR took effect at the beginning of the year. Today, we continue to build up sustainable recurring income streams, providing us with a strong platform for future growth."
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