The London-listed firm said today that revenue over the same period climbed to £59.1m, up 8%.

It said an increase in new business led to organic growth of 4%, which was partly offset by the market impact on ad valorem fees of a 0.4% reduction in total client assets.

Revenue for the six months was split between 37% fixed, initial or time-based fees and 63% ad valorem fees based on the value of assets under management, advice and administration.

The company reported increased demand for wealth management and Financial Planning advice driven by proposed pension and investment reforms and market conditions.

Ian Mattioli, chief executive, said: "The first six months of this financial year saw the group deliver improved organic growth despite the complex macroeconomic backdrop that persisted throughout the period.

“Our priority remains the delivery of profitable organic growth and we are pleased to report further progress towards our medium-term strategic goals.”

He said the improved organic growth resulted from a combination of clients' demand for advice and proactive communication by advisers, with a 13% increase in the value of new clients in the first half versus the equivalent period last year.

The company announced an interim dividend of 9p per share, up 2.3%.

Looking ahead, Mr Mattioli said: “Our trading outlook for the year remains in line with management's expectations and we believe the group remains well-positioned to take advantage of the growth opportunities in the UK wealth market and deliver sustainable returns for our stakeholders."

The acquisitive company said it had a pipeline of potential acquisition opportunities this year following a busy year in 2023.

In December its private equity division Maven Capital Partners acquired EIS manager Newable Ventures Limited as part of a move into the Enterprise Investment Scheme market.

In September, its subsidiary Ludlow Wealth Management acquired £53m AUM Blackpool-based Opus Wealth Management Limited in a deal potentially worth more than £1.4m.

Earlier last year it acquired a 50.1% stake in Lincoln-based mortgage adviser White Mortgages for £425,000.

It also acquired Northern Ireland Financial Planner Doherty Pension & Investment Consultancy for £15.048m.