Cavanagh to launch wealth platform as profits rise

clock •

National IFA Cavanagh Group has reported pre-tax profits of £782,000 for 2009 and has outlined plans to develop a wealth management platform.

Although pre-tax profits were up nearly four-fold from the last year's figure of £207,763, revenue was down 8% to £16,077,000. However, its revenue per adviser continued to be strong at £244,000 compared to £233,000 in 2008. Earnings before interest, tax, depreciation, amortisation and tax increased 26% from £1,248,000 to £1,572,000. The group said the performance of its discretionary fund management service Cavanagh Asset Management - which now has £136m of assets on the platform at the end of its first year - was "impressive" given the turbulent economic conditions. It has als...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

News editor's view: The devil in the Budget detail

News editor's view: The devil in the Budget detail

The news editor's Friday Night Takeaway from 30 October

Isabel Baxter
clock 30 October 2026 • 2 min read
What's spooking financial advisers this Halloween?

What's spooking financial advisers this Halloween?

Experts share what's keeping the profession awake this spooky season

Professional Adviser
clock 30 October 2026 • 4 min read
Feel Good Friday: CISI urges financial planners to give 'one hour' to upcoming Financial Planning Week

Feel Good Friday: CISI urges financial planners to give 'one hour' to upcoming Financial Planning Week

Event takes place January 2027

Professional Adviser
clock 30 October 2026 • 1 min read