Adviser platform Novia Financial’s operating profit after adding back depreciation, amortisation and non-trading items increased by 31% to £6.7m in 2021, according to its latest financial results.
The Ana-Cap owned platform business also saw its assets under administration (AUA) rise by 6% to £8.9bn at year-end, an increase of £522m in the year. Its revenue rose by 14% to £27.8m, up from £24.3m in the previous year, it said. Patrick Mill, Group CEO, said: "We're investing for growth and to increase our capability and overall proposition for our advisers and their clients, which will allow us to evolve to secure our position at the forefront of the next generation of platforms set to revolutionise the UK market." In May last year, private equity firm AnaCap acquired Novia for...
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