Parmenion posts £568k pre-tax profits

The firm's latest financial results show that turnover increased by 50%, from £2.2m to £3.3m, over the same period and that assets under administration more than doubled to reach approximately £750m. Operating profit rose 87% to reach £852,000. Parmenion managing partner Richard Mein said: "It's been a fantastic year for us. The Retail Distribution Review has had a positive effect on our growth, as advisers embrace the benefits and operational efficiencies that an insourced centralised investment proposition (CIP) can bring to their businesses. "This momentum has accelerated furthe...