Dalriada Trustees reports 13.2% increase in revenue
21st August, 2020
- 47 new occupational pension schemes added to client base in period
- 10 new professional trustees appointed in 12 months to March
- Dalriada reappointed to the PPF panel*
- 35 professional trustees fully accredited by the APPT*
Dalriada Trustees Limited (Dalriada), one of the largest providers of independent professional trustee services to pension schemes in the UK, has today announced the publication of its annual report and accounts for the 12 months to 31 March 2020. Revenues rose 13.2% to £8.2m largely as a result of 47 new occupational pension scheme appointments reflecting the strength of Dalriada’s growing trusteeship team and their team-based approach. 29% of new appointments were in sole trustee governance structures.
Operating profit for the year was broadly flat at £963k (FY 2019: £973k) despite a significant investment in new talent, which positions the business well for future growth. During the period, Dalriada grew its team of professional trustees across the UK by 10 (6 female, 4 male) with a further 35 appointments of other pension professionals. The Manchester and London offices, in particular, were strengthened with the appointment of five and three new professional trustees respectively.
As at 31 March 2020 Dalriada employed 37 professional trustees supported by over 80 highly trained staff working in a variety of roles across its UK-wide presence in Belfast, Birmingham, Bristol, Glasgow, Leeds, Manchester and London.
Tom Lukic, Chair at Dalriada, said: “This has been another excellent year for Dalriada. Increasingly complex market dynamics and a growing focus on governance continue to drive professional trustee appointments. Dalriada has benefitted from this as its strong team-based trusteeship model has achieved wider recognition and allowed us to build our client base, whether acting as a member of a trustee board, as a sole trustee or in another capacity.
“Looking ahead, ongoing market uncertainty continues to drive opportunities for us to bring our deep experience to bear across a range of situations. In particular we are delighted that our approach has led to our reappointment by the Pension Protection Fund to their advisory panel. We continue to focus on developing the talent and professionalism of our people while maintaining the highest professional standards acknowledging the 35 professional trustees who have achieved full accreditation by the Association of Professional Pension Trustees – more than any other trusteeship firm. We look forward to the future with confidence.”
*Post year end event