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Income for core enterprise at Parmenion rose 20% to £36m in 2021 because the platform swung from loss to revenue following its sale by Normal Life Aberdeen in July.
The platform and wealth supervisor noticed a £4.5m revenue in 2021, compared to a £4.6m loss in 2020.
Property below administration rose 17% to £9.6bn.
Internet inflows had been down 24% to £764.6m. Parmenion stated this was because of the lack of two purchasers.
Non-core income additionally dropped by £9.8m as a consequence of Normal Life Aberdeen ending Parmenion’s contract with Virgin Cash as a part of the sale of the enterprise.
Martin Jennings, CEO at Parmenion, stated: “Demand for monetary recommendation has by no means been larger, and we imagine that demand will proceed to develop all through the subsequent decade. Our intention to broaden our funding proposition, ship a market main retirement providing and innovate by means of digital providers and information has been nicely obtained by our adviser companions.
“As public temper and worldwide coordinated authorities coverage drives an elevated want for ESG options, we’re additionally delighted to be this yr celebrating the tenth anniversary of our pioneering moral options whose property below administration reached over £630m property with inflows of greater than £87m within the final twelve months alone. “
“With our new possession sparking a change of tempo and a company-wide give attention to serving to our clients thrive, we’re in little question that we’re in a superb place to assist advisers with a full vary of trade main services as they ship their recommendation to their purchasers.”
Personal fairness agency Preservation Capital Companions acquired the platform for £102m, following Normal Life Aberdeen’s resolution to promote the enterprise in November 2020.
Martin Gilbert’s AssetCo additionally holds a 30% stake in Parmenion Capital Companions.
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