The mortgage network upped its profits slightly from £482,895 in 2013 to £483,176 in 2014 despite turnover dropping from £51m in 2013 to £46.6m over the period.
Jane Cross, chief executive of Personal Touch, said: “These results continue to show the effectiveness of our quality-based strategy, achieving a safe level of profit from a company with robust financial strength, now entering its 21st year in business – significant and important because ‘safe profit’ is profit that will still be within the business in the long term.
“For the last three years, we have been changing the business to ensure Personal Touch remains profitable and secure for the long-term and this year’s results clearly reflect this work.
“A fundamental part of our strategy is de-risking the business to ensure we achieve ‘safe profit’. This core risk mitigation approach ensures that the profit achieved is sustainable.”
The company said its safe profit strategy enabled it to reduce the cost of professional indemnity insurance for its members by £250,000.
The network also focused on quality by becoming the first in the industry to introduce member fees directly linked to quality-based criteria, allowing over 80% of members to pay reduced fees in 2015.
In 2014 Max Wright moved from being chief executive to a non-executive role after three years at the helm and Jane Cross, formerly finance and IT director, took his place.
She added: “Following the ‘at retirement’ pension freedom reforms we believe the wealth landscape is changing dramatically.
“We are well positioned with a productive, stable community of wealth advisers who operate largely in hybrid businesses that will be able to offer consumers a range of wealth, mortgage and protection advice.”
The company had year-end cash reserves of £14.2m and over 2.5 times the capital adequacy requirement set by the FCA.
