New business highlights:
Total new single investments of £7.2 billion (2012: £5.9 billion) up 22%
Net inflow of funds under management of £4.3 billion (2012: £3.35 billion) up 28%
Funds under management of £44.3 billion (2012: £34.8 billion) up 27%
Strategic initiatives:
Continued expansion of Academy; planned launch of a regional programme
In advanced talks to acquire international adviser business in Asia
Back office infrastructure investment to enhance service delivery and achieve economies of scale
Full year dividend:
Full year dividend 15.96 pence per share, up 50%
A dividend increase in the range of 30 to 40% anticipated in 2014
David Bellamy, Chief Executive Officer, commented:
"2013 will be remembered as one of the most significant years in our history. Quite apart from the strong performance in all aspects of our business, it was a year in which we became a wholly independent FTSE company for the first time. It was also a year in which we made some important decisions affecting our back office infrastructure, to further enhance service delivery and achieve economies of scale, alongside investment in our distribution capabilities in the UK and overseas.
As I have said recently, there is a reassuring consistency about our business, which is most clearly demonstrated by the sustained growth in our funds under management over the last five years. Over this period of changing economic and market conditions, funds under management have grown by a compound 22% pa to £44 billion at the end of 2013.
The continuing growth and maturity in funds under management has, as expected, translated into strong growth in profits and the underlying cash result. I am therefore pleased to confirm that the Board proposes a final dividend of 9.58 pence per share, taking the total dividend for the year to 15.96 pence per share, up 50% on 2012.
Looking forward, everything we understand about our marketplace tells us that there is a growing need for trustworthy, personal, advice. Whilst there is always room for improvement, I am encouraged by the results from our recent annual client survey that show higher levels of overall client satisfaction, as well as higher levels of satisfaction in levels of service, communication and advocacy relative to both the feedback given in previous years and the wider marketplace. It's clear that our clients place great value on our approach to the management of their wealth and the long lasting relationships forged with our Partners and supported by the company. This will continue to be our focus.
Alongside that, I am confident that the growth we achieved in 2013, in both new investments and Partner numbers maintains the momentum in our business and bodes well for our future growth."
