Revenues at Tavistock's advisory business surpassed £32m in the year to 31 March 2022, a 14% jump compared to the entire group's revenues for the year prior, the company said in a trading update.
Tavistock declared an interim dividend of 0.07p per share, 40% higher than the dividend paid to shareholders in October last year.
The firm completed the sale of its £1bn investment management business to Titan Wealth last year for a cash consideration of £40m, together with a 10-year earn out period.
The year ending 31 March 2022 was the most successful trading year in its history, according to the firm.
It also acquired research firm LEBC Hummingbird, from advisor LEBC, for £3m, prior to which it acquired a 21% interest in LEBC.
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LEBC has an estimated £4.2bn in assets under advice and a 78,000 client base. In the year to 30 September 2021, LEBC's pre-tax profits were up at £430,000, and gross assets were at £130,000.
"The Company has made tremendous progress during the last year, and our current focus is on strengthening our partnerships with both Titan Wealth and LEBC, as well as maximising the benefits from our ownership of Hummingbird," said Brian Raven, Tavistock chief executive.
"We continue to be acquisitive and look forward to updating shareholders on progress in due course."
