Annual profits at Chase de Vere, the national independent financial advice firm with an office in Bath, have shot up by 87% to go above the £10m mark for the first time.
Pre-tax earnings at the firm for the year ending December 31, 2018, came in at £10.62m against £5.68m in 2017. The increase came on a 19.3% uplift in turnover to £68.49m. Average fee income per adviser rose from £286,000 to £296,000. 
Chief Executive Stephen Kavanagh described 2018 as “a fantastic year” for the firm and said it was actively seeking further acquisitions.
Growth had been achieved for a number of reasons, he said, including the successful integration of the business acquired from Medical Money Management, the growing importance of its affinity partnerships and the increasing productivity of its advisers.
“The most exciting news, as we celebrate our 50th anniversary in 2019, is that our future looks even better,” he said.
“We have launched Chase de Vere Medical, a service dedicated to providing independent financial advice to the medical profession, enhanced our client proposition by introducing a discretionary model portfolio investment service, which has already attracted more than £350m in assets, and we are actively looking for other like-minded adviser firms to join us; firms that are focused on providing exceptional client service and are committed to offering truly independent financial advice.
“We are absolutely wedded to independence. This approach resonates with professional bodies as we continue to build relationships with affinity partners, the latest being the Faculty of Medical Leadership and Management, who want their members to have access to top quality independent financial advice.
“In an environment where most other larger advice firms have chosen to give restricted advice, we remain committed to providing independent financial advice and putting our clients’ interests at the forefront of everything we do.”
Chase de Vere is backed by Swiss Life, one of Europe’s leading life assurance companies. It has 16 offices across the UK, including Bath.
