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Parmenion moves into strong profit against challenging economic backdrop

Revenue up 20% following strong sales

  • Revenue from the core business up 20% to £36m
  • AUM growth up 17%, from £8.2bn to £9.6bn.
  • Outstanding service levels maintained

Parmenion Capital Partners today announces a year of record results for year ending December 2021.  In the Annual report and financial statements to be filed with Companies House, the business showed robust performance across all key metrics including revenue from core business up 20% swinging from a loss to profit.  Assets under management, new business inflows and service levels also all saw significant increases.

2021 also saw Parmenion win a number of high-profile industry awards including Money Marketing’s Best DFM award.  The platform also achieved record numbers of Defaqto Stars and Diamonds for the investment solutions.  Strong service levels and adviser satisfaction was also reflected in The Investment Trends 2021 UK Adviser Technology and Business Report, which ranked Parmenion highest among all UK adviser platforms in Net Promoter Score among all users, and second for overall user satisfaction.

Martin Jennings, Parmenion CEO said; “Last year saw the business move into solid profit against a backdrop of severe economic uncertainty.  With increased new business inflows these results are an important reflection of the adviser support we have fostered through our next generation technology, innovative investment solutions and first-class, award-winning service proposition. Our continued focus on creating value, reducing risk and generating efficiencies for our adviser clients is unwavering. Providing this level of support not only requires a laser focus on technology innovation, client service, and investment excellence but also the motivation and determination of our highly skilled staff. “

Jennings continued: “Demand for financial advice has never been higher, and we believe that demand will continue to grow throughout the next decade. Our intention to broaden our investment proposition, deliver a market leading retirement offering and innovate through digital services and data has been well received by our adviser partners.  As public mood and international coordinated government policy drives an increased need for ESG solutions, we are also delighted to be this year celebrating the tenth anniversary of our pioneering ethical solutions whose assets under management reached over £630m assets with inflows of more than £87million in the last twelve months alone. “

“With our new ownership sparking a change of pace and a company-wide focus on helping our customers thrive, we are in no doubt that we are in an excellent position to support advisers with a full range of industry leading products and services as they deliver their advice to their clients.”