More growth at Chase de Vere on acquisitions and higher client satisfaction

June 26, 2020

Integrating a spate of acquisitions over recent years helped push annual profits at Chase de Vere, the national independent financial advice firm with an office in Bath, to a record high.

Profits came in 23% up at £13.03m for 2019 – its sixth consecutive year of profitability – on a 5.8% sales increase to £72.49m. 

The results maintain the strong growth of 2018 when profits climbed above £10m for the first time. 

Chase de Vere said it had invested heavily during the year to ensure the highest degree of client satisfaction and this was reflected in a Net Promoter Score of 57.8 (50.8 in 2018).

Chief executive Stephen Kavanagh, pictured, described 2019 as “another great year of progress” for the firm, which is backed by Swiss Life – one of Europe’s leading life assurance companies – has 16 offices across the UK, including Bath.

“We have increased profits, developed and formed new affinity relationships, particularly related to the medical and dental professions, and have improved the satisfaction scores from our clients,” he said.

“I am particularly pleased with the contribution made by the employees who joined us from Medical Money Management, which we acquired in October 2017, and am delighted that we acquired Ferguson Oliver, an Independent Financial Advice firm based in Angus, in October 2019.

“We are actively looking for other like-minded adviser firms to join us; firms that are focused on providing exceptional client service and are committed to offering truly independent financial advice.”

 He said the firm’s focus on client service had been evident as the country went into lockdown in March as a result of coronavirus.

The company’s robust business continuity plan meant that all employees were quickly and effectively set up to work from home as the sole focus was put on the wellbeing of its clients and its employees, he said. 

“Coronavirus has overshadowed businesses in 2020 and we have revised our forecasts accordingly. During this time our sole focus has been on the welfare of our employees and speaking with our clients.

“Our financial strength, and our supportive parent company, means that we remain in good shape and we have, for example, not furloughed any of our employees.

“I am incredibly proud of how well our employees have adapted to remote working and how they have continued to provide an exceptional service to our clients throughout these challenging times.”



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