Succession Wealth reported an operating loss of £3.6 million in its unaudited financial results for the year ended 31 December 2020, a stark improvement on the £6.9 million loss reported for 2019.
Total revenues increased marginally year-on-year from £74.1 million to £74.3 million. Assets under advice (AUA) also increased, from £6.47 billion to £7.67 billion.
Underlying profitability, as measured by EBITDA, grew by 40 percent from £7.4 million to £10.3 million, the unaudited accounts show.
The firm reported it now has over 17,000 clients, with 552 new clients joining in the past year.
Operati...