Member Article

Leeds’ Pearson Jones plc profitability receives recognition

Leeds-based wealth management company, Pearson Jones plc, has been revealed as one of the most profitable in the UK by a top London-based fund managers’ rating agency.

The West Yorkshire firm has been judged to be the third most profitable wealth management business in the UK in a Top 100 industry list researched by New Model Adviser, part of ratings agency and financial publisher, Citywire.

The research predicts that Pearson Jones Plc will achieve profits of £1.5m in 2013 – £500,000 above 2011.

The company, which also has offices in Sheffield, Bishop Auckland and Reading, was identified as the biggest in the Top 100 wealth managers with 120 staff, including 13 chartered financial planners and £1.8bn in funds under management.

According to the research, Pearson Jones has maintained 75 per cent of its recurring income since 2012 – five per cent ahead of its position in 2011.

Pearson Jones Plc investment director and deputy managing director, Peter Heckingbottom, said: “Implementing the Retail Distribution Review and maintaining the highest standards of advice to clients has enabled us to retain existing business and attract more at all our offices, even during the more cautious economic times.”

The company sold the administration of more than 280 SIPPS in two schemes, The SKPJ SIPP and The NET SIPP, to Suffolk Life, Ipswich, part of the Legal & General Group, for an undisclosed sum in May 2013 so as to focus on its core business.

This was posted in Bdaily's Members' News section by Mark Lane .