Personal Touch Financial Services has reported a pre-tax profit of £483,176 for 2014, which is level with the previous year’s figure.
In its latest accounts, the network reported a turnover of £46.6m, down by 9 per cent from £51m in 2013.
The number of appointed representatives fell by 6 per cent, from 329 at the end of 2013 to 309 at the end of 2014. The number of registered individuals dropped more sharply, by 12 per cent. PTFS had 593 RIs at the end of 2014, down from 673 the previous year.
PTFS sales and marketing director David Carrington says the network has had a risk management strategy to reduce its number of ARs over the past few years.
But he says: “The volume of leavers has slowed down and we are now seeing a natural attrition rate. Our plan is to balance the leavers and joiners and keep numbers level.”