Alliance Trust Savings (ATS) has turned its first monthly profit, according to accounts filed today.
The platform arm of Alliance Trust made a £400,000 loss in 2012, up from a £2.3m loss £2.3m the previous year. Assets under administration rose from £3.3bn to £4.1bn, as the firm begins to shift its strategy towards targeting advised business. Its parent company invested about £2m in the platform in 2012. Alliance Trust CIO, Katherine Garrett-Cox, said ATS "is now well positioned to perform profitably and pick up market share as a result of the changes that are being implemented as part of the RDR [Retail Distribution Review]." Revenue increased 39% following the introduction of...
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