First Actuarial sees annual revenues hit £45 million
Wealth management and pensions consultancy First Actuarial has posted record demand, hitting £45 million in revenues for its latest financial year. The results from its 2024-2025 accounts show three consecutive years of double-digit growth.
Managing Partner David Joy commented, “This is a fantastic performance from everyone at First Actuarial, on the back of two strong years. Three consecutive years of double-digit growth shows that we’re clearly doing the right things for clients.”
Over the last three years, First Actuarial’s growth now stands at an average of 17%, well above the consulting market average over the same period. Encouragingly for the firm, it also confirmed that its revenue increases ran across all business areas in the last year – even as the broader advisory sector saw expansion grind to a halt.
According to the firm, its success has been powered by a “client-first approach” and a “people-centred ethos” – with First Actuarial’s internal happiness survey metrics on an upward trajectory. This has helped improve retention – leading to headcount increasing by 48% over the past three years to support business growth.
Joy added that he and the management team were particularly proud of the firm’s administration function, which now represents almost 40% of the overall business. Administration has consistently recorded significant growth over the past decade.
He noted, “Administration is the engine room of First Actuarial. All our administrators provide a great service for clients and scheme members. Of course, every firm can claim to put clients first, but the proof is the number of referrals we receive, which is driving stellar growth.”
Looking ahead, First Actuarial aims to maintain its form by ramping up its graduate programme. Amid a national decline in graduate recruitment – especially among the consulting sector’s top table – the move will not only allow it to handle even high volumes of work and win more business, but also may give it access to new talent that would previously have been mopped up by Big Four firms.
Joy concluded, “With so many new starters, we’ve made concerted efforts to invest in our teams across the firm and uphold our distinctive values. We have a good name in the industry for quality and reliability, and new clients notice our positive working culture.”
Other mid-market firms have also recently confirmed their intent to increase graduate and junior hiring. Among them have been Bishop Fleming, Grant Thornton and BDO.
