IFP back in surplus despite 'dreadful' year

Scott Sinclair
clock

The Institute of Financial Planning (IFP) beat expectations to post a near £85,000 surplus in 2009.

Despite the 'dreadful' economic conditions, the professional body says improved sponsorship revenue helped it post a profit of £83,733 last year after recording a loss of £138,000 in 2008. It had anticipated a surplus of about £65,000. Loans totaling £75,000 made to the IFP by board members Jane Wheeler and Marlene Shalton to partially offset the 2008 deficit have been repaid in full. Wheeler, who is no longer on the board, loaned £25,000 while Marlene Shalton contributed £50,000. Wheeler received £1,625 interest on the loan, while Shalton received £3,250. The duo had loaned the or...

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

Feel Good Friday: Brooks Macdonald gives sports wellbeing advice

Feel Good Friday: Brooks Macdonald gives sports wellbeing advice

Wealth manager has partnered with charity Sporting Wellness

Professional Adviser
clock 03 May 2024 • 1 min read
Adviser guide aims to 'demystify' Consumer Duty annual reporting

Adviser guide aims to 'demystify' Consumer Duty annual reporting

Firms to produce first annual Consumer Duty board report

Sahar Nazir
clock 02 May 2024 • 1 min read
Behavioural coaching a 'tough sell' among prospective clients

Behavioural coaching a 'tough sell' among prospective clients

‘Clients overlook major sources of value from advisers’

Isabel Baxter
clock 02 May 2024 • 1 min read