Dalriada Trustees reports a further year of growth and continued investment in the business

Dalriada Trustees reports a further year of growth and continued investment in the business

• 37 new occupational pension schemes added to client base in period
• More than 150 schemes in ongoing trustee portfolio
• 34% increase in revenue
• 15 new senior hires in 12 months to March
• 42 professional trustees fully accredited by the APPT

Dalriada Trustees Limited (Dalriada), one of the largest providers of independent professional trustee services to pension schemes in the UK, has today announced the publication of its annual results for the 12 months to 31 March 2021. Revenues rose 34% to £11m as the business continued to grow its trusteeship portfolio with a number of new appointments.

During the period, Dalriada continued to invest in the business, growing its headcount with 15 new senior hires drawn from a variety of different backgrounds and with a range of skill sets, further enhancing the breadth, depth and diversity of its trustee team. As at 31 March 2021, Dalriada employed 42 professional trustees supported by a wider team of highly trained staff working in a variety of roles across its UK-wide presence with offices in Belfast, Birmingham, Bristol, Glasgow, Leeds, Manchester and London.

Operating profit for the year increased to £1.25m (FY 2019: £963k), after allowing for the continued investment in growing and developing the team. This investment provides a sound platform for continued innovation, development of the business and for further growth over the medium term.

Tom Lukic, Chair at Dalriada, said: “The year ending 31 March 2021 was a very challenging year for both our people and our business as we managed through the ongoing effects of the COVID-19 pandemic and the associated disruption to our daily lives and normal working patterns. Despite these challenges, we are delighted to report a further year of growth and investment in the business. Changing market dynamics and a growing focus on governance continue to drive professional trustee appointments. Dalriada has benefitted from this as its strong team-based trusteeship model has achieved wider recognition and allowed us to further build our client base across the spectrum of trustee offerings, including co- trustee, chair of trustees and sole trustee appointments.

“Looking ahead, an evolving economic landscape and legislative change continues to create opportunities for us to bring our deep experience to bear across a range of situations. We continue to focus on developing the talent and professionalism of our people while maintaining the highest professional standards acknowledging the 42 professional trustees who have achieved full accreditation by the Association of Professional Pension Trustees – more than any other trusteeship firm. We look forward to the future with confidence.”