Wednesday, September 21, 2022
HomeFinancial PlanningSense and Lyncombe networks report income up 66%

Sense and Lyncombe networks report income up 66%

Income on the Sense and Lyncombe adviser networks, a part of Adviser Companies Holdings Restricted (ASHL), jumped by 66% to £71m in 2021.

Working income after tax rose 224% to £2.4m.

Income for the Sense community elevated to £47.65m (2020: £37.95m) with income rising to £1.62m (2020: £894,000).

The Lyncombe community noticed income rise to £22.99m (2020: £4.47m), with income growing to £811,000 (2020: £180,000).

ASHL’s discretionary administration enterprise Rockhold Asset Administration noticed property below administration rise to £500m, with inflows anticipated to exceed £1bn in 2023.

The agency’s discretionary administration enterprise arm was launched in August 2021, with the acquisition of iFunds Asset Administration.

Michael Couzens, CEO of ASHL, stated: “We’re delighted to announce such robust outcomes. That is the results of a longer-term plan together with the mixing of the again places of work of the networks, a considerable enhance in funding in top quality employees and elevating the bar on high quality, together with being prepared to lose corporations that would not or wouldn’t meet our requirements. Our strategy has been focussed on higher not simply greater.

“Our group prices included transitioning advisers, supporting the consolidation of processes throughout the piece, and establishing a DFM, Rockhold Asset Administration, and a very good restricted proposition to take a seat alongside our IFA proposition.”

Adviser assist providers supplier ASHL not too long ago partnered with younger adviser group Subsequent Gen to launch an adviser academy for its future advisers.

ASHL acquired the Sense and Lyncombe networks in 2020 with 280 advisers mixed. On the finish of 2020 ASHL additionally facilitated the transition of 60 advisers from Community Direct.

ASHL now gives assist for 400 advisers with over £7bn in property below affect.

The adviser assist service supplier was began in Could 2019 by CEO Michael Couzens and managing director Andy Ferns.

Mr Ferns beforehand led distribution networks at Zurich Openwork.  He was a founding director of Caerus earlier than promoting the community in 2017. 



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