annual results

AUM dropped 6%

Earned £743m in adviser charges

£2.53m after tax profit

65% share bought for £86m

Pre-tax profits reach £1.6m

Strong results are 20 years in the making

Support services provider SimplyBiz has swung deep into the red after writing down a loan to national advice firm Sandringham Financial Partners and suffering losses from its investment in employee benefits business Staffcare.

Adviser network Personal Touch has almost halved the amount of money it has set aside for settling complaints after paying out more than £256,000 in the last year.

Prudential's UK life arm has reported a growth in operating profits of 7%, despite suffering a sharp fall in its individual annuity business following the announcement of the government's pension reforms.

Vertically-integrated wealth management group True Potential has reported a £1bn increase in assets on its platform in 2014, helping group profits almost double to more than £10m.