National IFA Chase de Vere has reported a 24.2% rise in pre-tax profits to £31.9m for 2024, up from £25.7m the previous year.

The firm has published its annual reports for 2024 today.

Revenue rose to £118.6m during the year, marking a 13.6% increase from 2023.

The firm said its financial performance was driven by increased new business from client referrals and affinity partnerships, and strong contributions from recent and new acquisitions, and was underpinned by exceptional client feedback.

The company said client satisfaction remained a cornerstone of its success. Chase de Vere achieved a Net Promoter Score (NPS) of 71.1, for the 12-month period, up from 68.4 in 2023, and maintained its “excellent” Trustpilot rating of 4.9 out of 5.

During the year, Chase de Vere acquired the business of Lloyd & Whyte (Financial Services) Limited, and the entire share capital of DL Bloomer Limited and Nancherro Limited. The acquisitions were supported by Chase de Vere’s parent company Swiss Life.

The Group launched a focussed advice service in 2024 to provide accessible advice to clients who are establishing the foundations of their Financial Planning. The firm said the service has benefited the children and grandchildren of existing clients, members of Chase de Vere’s affinity partnerships and employees of the company’s workplace clients.

The firm said the service also provides a pathway for graduates of Chase de Vere’s Adviser Academy, who wish to become face-to-face financial advisers in the future.

Kathleen Gallagher, chief executive, Chase de Vere, said: “I’m incredibly proud of our achievements in 2024. It was particularly pleasing to witness a significant increase in the number of referrals from existing clients, the establishment and development of new affinity relationships, and the contributions made by companies we have acquired in recent years and the fantastic colleagues who have joined us as a result.

“Our financial performance and the support of our parent company, Swiss Life, provide an excellent platform for us to continue to pursue our goals. This includes extending our advice and service to more clients, continuing to nurture the next generation of financial advisers and acquiring more like-minded companies, who are passionate about the value of independent advice.”