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Odey Wealth Management's profits fall nearly a third

News Team, 07/01/2021

Odey Wealth Management UK's pre-tax profits decreased 31 percent from £510,000 in 2019 to £351,000 in the year ending 5 April 2020.

According to a new filing on Companies House, operating profits also fell from £445,000 to £319,000.

Odey Wealth Management is part of the Odey Group, of which Odey Asset Management (OAM) is the largest and best known brand.

One of the wealth management arm's key sources of revenue is introducer fees paid to it by OAM. This income declined from £2 million to £1.5 million in the year ending April 2020. The firm introduced £244 million of new business to OAM in 2019, down fro...


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