Plymouth-based national IFA firm Continuum has reported assets under influence up 22% year on year to £1.86bn.

In a trading update today for the quarter ended 30 September, firm said it had also seen a 13% increase in recurring income and a 9% increase in annualised turnover projection to £12.94m.

It reported a 6% increase in income from the firm’s partnership with accountancy body 2020 Accountancy.

Continuum’s number of advisers was up 15% year on year to 70.

Active client numbers were up 18% year-on-year to 14,153 across all client types including transactional.

Continuum is part-owned by M&G which took an initial 49.9% stake in the company in August 2022 with an agreement to acquire the remainder of the business over the following 2 years. 

In an upbeat comment on future prospects, Martin Brown, managing partner at Continuum, said the FCA’s new Consumer Duty brings would bring new opportunities for businesses offering high quality advice.

He said: “Every day offers opportunity and the implementation and impact of the FCA’s new Consumer Duty redefines the financial advice sector by increasingly driving clients to high quality trusted advice firms.”