National IFA Positive Solutions has posted a pre-tax loss of £360,000 for 2011, compared to £2.1m the previous year.
The Aegon-backed firm said it had turned a profit of £164,000 before taking into account "exceptional costs", including a business restructure. While 2011 had been a difficult year, the results read, focussing on a smaller number of higher quality advisers in readiness for RDR had left the firm in a strong position. Average productivity per adviser rose 20% in the last year, in part due to redundancies for unproductive advisers. CEO Peter Coleman said the results represented "a huge turnaround in fortune". "While we made a loss before tax of £360,000 for the year this represents ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
