IFP posts 'disappointing' £18k deficit despite rise in members

The not-for-profit IFP and its Ofqual-regulated subsidiary FPSB UK posted a loss of £17,589, comprising a deficit of £20,296 for the IFP and a £2,706 surplus for FPSB UK. IFP chief executive Steve Gazzard (pictured) described the result as "disappointing", but put it down to increased investment in growing the organisation, including a move to new headquarters in January, and said the deficit was covered by its reserves. The combined IFP and FPSB UK recorded a £61,000 surplus in 2012, thanks largely to the £22,000 achieved by FPSB. The IFP increased membership to 2,046 in 2013, it ...