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 represent...
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