Parmenion’s group operating profit for 2024 increased to £17.5m up 12.9% on the previous year while its platform flows doubled during the 12 months to 31 December, according to its full-year results.
Assets increased by £2bn to £13.1bn by year-end and revenue was up from £48.7m in 2023 to £50.2m in 2024. The group's EBITDA also increased from £17.9m to £20.1m in 2024. The strong performance came against a backdrop of increased outflows across the UK platform market, the group said. It said it pointed to ongoing its ongoing strategy of service excellence and proposition enhancements which included more than 400 new features in 2024. It highlighted that it supported "14 advice firms in bulk transferring £300m on behalf of their clients and have built up a pipeline of £1.5bn assets t...
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