Foster Denovo increases pre-tax profit by 70%

The company generated total revenues of £20,849,040 (compared with £18,162,569 in 2011). It also improved productivity of individual advisers by 16.84% to £242,000 (from £208,000 last year). Despite launching a campaign to recruit advisers in October, the company had 87 financial advisers at the end of the year - the same number as it had at the beginning of the year. A director's note released with the results stated: "The directors continue to expect the future financial advice market to move towards increased consolidation. "This will be driven by the impact of regulatory cha...