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NICHE pensions firm Sacker & Partners has boosted its average profit per equity partner (PEP) by 29 per cent to £874,000, a figure matched only by the magic circle and Ashurst.
Turnover at 20-partner firm Sackers, which reports on a calendar year basis, was also up considerably. The 22 per cent rise to £19.1m should secure Sackers a berth in the UK’s top 100 firms for the first time.
Senior partner Ian Pittaway said it had been “an exceptionally good” year.
The increasing importance of pensions generally, coupled with the introduction of new pensions legislation last year, including A-Day and new pension scheme-specific funding requirements, helped the 20-partner boutique post its outstanding results.
“The results were driven by pensions being high up the corporate agenda and legislative change,” said Pittaway.
Sackers, which is based in a single office in London, also increased its already high profit margin from 51 per cent to 54 per cent. This represents an increase in net profit from £8.1m to £10.4m.
The firm has 12 equity partners, with the highestearning partner taking home £992,000.