London-based wealth manager Saranac Partners has posted a pre-tax loss of £13.3 million for 2018, taking the firm’s cumulative losses to more than £45 million since its creation in 2016.

However, the firm issued a statement saying it expected to break even in 2019 and that the results for the year ending 31 December 2018 (just released) were “in line with [the] business plan”.

The £13.3 million figure was a marginal improvement on the £13.6 million loss in 2017, with 2018 revenue growing 36 percent to £1.65 million (2017: £1.21 million).

Revenue from investment services more than tripled, from £43...