National IFA Chase de Vere has reported a £700,000 rise in pre-tax profits thanks in part to the acquisition of two Financial Planning firms in 2023.

The company reported pre-tax profit of £25.4m in 2023, up from £24.7m in 2022, according to its Annual Report and Financial Statements for the year ending December 2023.

In 2023, Chase de Vere acquired Financial Planning businesses Mackay Hall Wealth Ltd and GRC Financial Management Limited, which it said increased the company’s assets under management by over £200m.

It is also seeking further suitable acquisitions, it said.

During the year Chase also opened a new Edinburgh office.

CEO Kathleen Gallagher said: “In light of the continuing geopolitical and economic volatility that categorised much of 2023, our clients relied on us more than ever for sound advice and reassurance, and to help their families through the challenges they faced.

“I have also been delighted to welcome some really talented, and equally dedicated, new colleagues from the businesses that we acquired in 2023. We expect to make further acquisitions this year although, as with our current approach, will only join forces with like-minded firms which are passionate about providing high quality independent financial advice and whose overriding consideration is the best interests of their clients.”

Chase de Vere was established in 1969 and has 18 offices across the UK. The firm provides independent financial advice and planning services for private individuals and businesses.

The firm is backed financially by European life assurance company Swiss Life. It has 24,500 clients and £9.4bn of assets under influence.