Partner Article

£1.3 million investment in Lancashire’s Profile Financial Solutions

Lancashire’s financial services advisory firm, Profile Financial Solutions have received £1.3 million of growth capital investment.

The initial investment will enable Profile to expand operations including a move to a larger office to accommodate its growing team.

Founded in June 2013, Profile already manages over £125 million of pension assets on behalf of its customers.

The market opportunity for independent financial advisory firms such as Profile was recently boosted by an announcement from Chancellor George Osborne that the government plans to introduce wholesale changes to the pensions market in April 2015.

With millions of people nearing retirement age granted the freedom to spend their pension pot as they please, demand for pensions advice is set to increase as up to 18 million will be faced with new choices for managing their pension.

Managing director at Profile Financial Solutions, Ian Floyed, said: “Consumers are currently under serviced by the traditional IFA market, meaning that millions are unable to receive independent advice.

“We hope that by combining accessible technology with great customer service we can fix this problem.

“The investment from Smedvig will enable us to improve our digital capability and fund our expansion to meet the increasing demand for our services.

“With major changes to pensions just around the corner, we’re looking forward to welcoming many more clients to Profile and helping make their money go further for them.”

This was posted in Bdaily's Members' News section by Sophia Taha .