IFA announces better performance

11/05/2010

West Yorkshire's independent financial adviser (IFA) Pearson Jones has announced that it performed well despite the economic meltdown.
The firm, which is based in Leeds, said that it continued to secure new deals from stockbrokers and private banks even during the tough economic climate.
Although it experienced a slight drop in profits, the firm claimed that it performed better than many IFAs, which faced lower gains and were forced to slash the number of their employees.
The IFA said that its staff strategy ensures the firm benefits from the recovery.
Managing director Tim Johnson said: "The tough climate highlighted the fact that many transactional IFA businesses had a wrong, and outdated, financial model, relying on commissions from new investments to fund their own businesses.
"This approach always causes problems in a recession. We are a wealth management business not a transactional IFA, which means that our clients pay us for ongoing good-quality professional advice in good times and bad. We do not rely on commissions from new investments to pay our staff."
In 2009, Pearson Jones was honoured with the title of International IFA Team of The Year in the Society of Trust and Estate Practioners awards.
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