DBS thrives on independent advice

DBS Management, the Huddersfield-based financial services group, yesterday announced a 26 per cent increase in first half pre-tax profits of pounds 1.3m. The profits rise, which also reflected a 26 per cent increase in turnover to pounds 33.8m, came after charging costs of almost pounds 260,000 as part of the company's move on to the Alternative Investment Market in July. DBS's turnover follows the company's positioning in the past year as the largest network of independent financial advisers in the UK.

Since September 1994, the company's number of advisers has grown from 1,700 to more than 2,100, boosted by its ability to offer effective and cheap administration and compliance for members in the wake of tougher financial rules for advisers.