Killik & Co founder Paul Killik (picture) has enjoyed another bumper payday with his firm’s accounts revealing he took home £5 million in its last financial year.
This came as the business reported pre-tax profits rose by 7.9% to £16.4 million year-on-year over the 12 months to the 31 March 2018, according to accounts filed at Companies House.
Although solid growth, this figure was down from the previous year’s stellar 38% rise in profit.
The firm’s turnover increased by 11.2% from £42.1 million to £46.9 million.
This was helped by the business recording net inflows of £271 million, up from £246 million the previous year.
The group’s core retail assets grew from £4.4 billion to £4.7 billion and by June this figure had risen to £5.2 billion with total assets of £5.8 billion.
The accounts show the firm has not given up on its long-delayed robo-investment venture Silo, which was originally slated for launch in early 2017.
Killik stated: ‘We continue to progress in combining the best of technology with the best of human advice expertise.’
Killik this year lent Buzz Software Limited, a business under the ultimate control of Paul Killik which is building the app, £123,000 bringing the total the firm has invested in the venture to £2.67 million.
The development of the app has been hampered by ex-Google engineer Paul Taylor leaving the business at the end of 2017, around 15 months after he was recruited.
The accounts also reveal that the company is continuing its drive to beef up its financial planning division.
Killik said: ‘We are currently in the midst of a major training programme for new planners. We seek to integrate planning more deeply integrate into our business, whilst ensuring that investment remains central in our space.’