Heartwood boosts pre-tax profits by 26.5 percent despite challenging operating conditions

Ian Orton, 15/04/2019

Heartwood Wealth Management, the UK wealth management subsidiary of Stockholm-based Handelsbanken, reported pre-tax profits of £1.73 million for the year to 31 December 2018, a £364,000 or 26.49 percent increase on the £1.37 million recorded for 2017.

Revenues came in at £28.18 million, a £2.37 million or 9.18 percent increase on the £25.81 million for the previous year.

This reflected a 14 percent increase in client numbers and a strong flow of net new business counterbalanced by a negative market performance.

Client assets under management and administration increased by 1.2 percent from the £3.44 bil...

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