Manchester-based financial planning consultancy Pareto FP has grown its turnover to £3.4 million, an increase of 26 per cent on last year. Forty per cent of total turnover is now from recurring income.
According to the owners, Pareto FP has provided advice in response to a wide range of pension and investment enquiries, as well as giving continued auto-enrolment support for owner managed businesses. This has led to new clients, and an increase of over £100 million in funds under influence.
The company, which was founded eight years ago by John Stevenson and George Chantry, now employs 36 people after boosting its headcount by nine in the past year.
Steve Smith, recently appointed as Operations Manager, brings 20 years’ experience in financial services with him. Most recently, he held the most senior operations position at a prominent national IFA. Sebastian Halstead joins as Marketing Executive, after successfully completing a marketing Master’s degree from the University of Salford.
The business model is based on introduced work from professional practices such as accountants, via formal introducer agreements. As the company’s networks grow, so does the number of clients directed to it.
John Stevenson, Managing Director, said: “We are expecting continued growth over the next year and we are currently actively recruiting for two senior IFAs to work out of new recently won accountancy practices.
“We want to add to the team of 36 at Pareto FP and continue to grow going into 2017.”
He added: “Myself and George Chantry founded the company and between us have almost 50 years of financial experience. We are supported fantastically by our equally experienced Management team to adapt to challenges and change within the business and our Industry.
“Though a significant proportion of our income is recurring, we are continuing to establish new relationships with accountants and other professional introducers across the north west.
“Our continued success is testament to the hard work of our brilliant team.”