SPF Private Clients (SPF) has posted a 13% increase in gross revenue to £37.4 million for the year ending December 2022.

Debt gross revenue grew by 9%, with SPF’s portfolio of products strengthening throughout the year and its insurance and wealth business growing by a combined 19%, increasing its share of total revenue to 34% from 32%.

EBITDA increased from £7.4m to £8.2m, with gross mortgage completions increasing by 9% to £3.9 billion.

To further support forecasted growth, the number of consultants increased by 11%, bringing the total to 122 at the end of the year. Average revenue per consultant dipped slightly following the recruitment drive but remains strong at £320,000.

Mark Harris (pictured), group chief executive of SPF Private Clients, said: “We are delighted with our latest set of results, which are positive in terms of growth, revenue and profit.

“2022 ended up being a good year for the business although it could have been even better if it hadn’t been for the mini-Budget. The diverse nature of the business enabled us to thrive, with the numbers demonstrating the breadth of our offering.

“In the summer we sold the business to the global insurance broker, Howden. We are enjoying being part of a larger group again and the opportunities that presents, having left Savills in 2011.

“This year, we plan to open offices in Edinburgh and Bristol to complement our existing office base, as well as in Hong Kong, Singapore and Dubai, enabling us to grow our international market share.”