Strategically, the group completed the acquisitions of Talbot and Muir, a high-quality provider of SIPP and small self-administered pension schemes, and Dunstan Thomas, a leading fintech provider, and announced a new fee-charging structure for clients.
In a brief trading update, the firm said these initiatives will reduce the proportional contribution of interest income to total revenue and improve the overall quality and diversity of earnings across the group.
“Despite the challenging environment we refused to be downbeat and remained focused on our growth strategy. As a result, we managed to execute key strategic initiatives and deliver a strong and robust performance in 2020,” said Will Self, the chief executive officer of Curtis Banks in the statement.
“Looking ahead, we will continue to build a business that looks set to benefit from macro-trends, namely greater numbers of UK savers and an ageing population. Building upon our success as one of the UK’s leading SIPP providers, we will continue to develop the business through enhancing our service to our clients and advisers, greater diversification of revenue streams and the targeting of improved operating profit and quality of earnings,” he added.