Digital drive contributes to profitable H1 as platform now exceeds £20bn AUA
H1 profits up 11% at James Hay, the platform for retirement wealth planning, and assets under administration (AUA) break £20bn, thanks in part to the platform’s continued digital and operational efficiency drives.
H1 highlights included:
- Assets under administration up to £20.3 billion as at 30th June, up 16% compared to the same time last year
- Adjusted operating profit up 11% (vs H1 2015) to £4.2 million
- Achieved ‘Excellent’ FinalytiQ rating for SIPP financial security
- Awarded CoreData ‘Rapid Riser’ for 2016 for being most improved platform
CEO Alastair Conway said: “With the continuing increase in demand from advisers and investors for flexible investment, drawdown options and improved reporting functionality, it is critical that platforms have the ability to evolve digital solutions quickly and efficiently. As a profitable business, we continue to invest in our proprietary technology, develop and improve our service to advisers and investors, with an ongoing focus on enhancing the user experience to create a digital platform for the future.”
For further information, contact:
Sam Prince, Press Officer, James Hay Partnership
Tel: 0207 553 4907
James Hay Partnership, the platform for retirement wealth planning, has been working with financial advisers and clients for over 30 years to administer pensions, savings and investments in a cost and tax efficient way. Today nearly 56,000* clients trust us to look after more than £20 billion* worth of pension and investment savings.
From the very first day we have challenged industry norms as we’ve responded to changing client needs - from being the first SIPP provider in the UK, through to developing our modular approach to retirement wealth planning, which we launched in 2013.
The Modular iSIPP embraces fair and flexible pricing meaning the customer only pays for what they use, while they use it. This has now been evolved through the Modular iPlan to include other non-pension wrappers such as GIAs and ISAs.
We are able to continue to innovate thanks to being part of the IFG Group, a focused financial services company specialising in the provision of independent financial advisory and administrative services.
Headquartered in Dublin, Ireland, IFG Group plc is listed on the Irish and London Stock Exchanges.
*as at June 2016
Any quotations are correct as at the date of the press release.