A financial planning consultancy which is celebrating a decade in business has posted an 18 per cent surge in annual revenues.
Manchester-based Pareto Financial Planning grew turnover from £4.1m to £4.85m in the year to March 31.
The independent advisory firm increased its funds under influence by more than £130m to over £600m and saw strong growth in recurring income, which now represents 50 per cent of turnover.
Staff numbers have risen from 34 at the start of the 2017/18 financial year to 48 in line with Pareto’s expansion.
The company is on track for another stellar year, with revenues forecast to reach £5.4m.
Pareto, which is based in Manchester city centre, advises individual and corporate clients across the north west and beyond on all aspects of financial planning, including pensions and investments, income protection, life cover and employee benefits.
Its clients range from high net worth individuals to owner-managed businesses.
Pareto was established in 2008 by John Stevenson and George Chantry with one employee.
Key recruits over the past 12 months have included Nicky Aspray to the role of operations manager, Edita Jeneckaite-Zubairi as compliance manager and Alan Makinson to spearhead the employee benefits team.
Pareto launched a training programme for its financial advisers under the stewardship of sales director Paul Stones. Anthony Bruchez is the first adviser to come through the scheme.
Managing director John Stevenson said: “We are delighted to announce another strong performance for Pareto as we celebrate 10 years in business. We exceeded our initial forecasts with revenue growth of 18 per cent, which is testament to the dedication and commitment of our staff as well as our market-leading offering to individual and corporate clients.
“We secured a number of new partnerships with accountancy firms across the north west which have helped lay a platform for continued strong growth, and we expect to conclude further agreements over the coming months.
“As well as maintaining our organic expansion, resulting in further recruitment, we are also looking to acquire financial advisory firms which have similar core values to our own.
“We look forward to the future with confidence as demand for our services continues to increase.”