The scope
The advisers with the most stock market clients in each
category have been ranked on the basis of three criteria
relating to their clients’ underlying performance – aggregate
pre-tax profits, average growth in pre-tax profits, average
growth in earnings per share – and a fourth category based
on the number of clients each has.
Most number of stock market companies
All joint appointments have been counted as half clients,
and advisers under common ownership or control but with
different names have been treated as separate firms. Any
adviser with a number of offices all using the same name
has been treated as a single entry.
The Top Corporate Advisers tables are drawn from the Hemscott
PLC database. It is important to note that the prime source
for the client listing is information supplied by the
client companies themselves (rather than by the advisers).
Client listings are sent to the advisers for comment at
regular intervals. If at any stage an adviser asks us
to add a client to its list, confirmation is sought from
the relevant company that this is in order.
Clients making the most profit
The profit figure credited to each adviser is the aggregate
ordinary profits and losses before taxation of its clients
as stated in their latest annual reports. Results for
the clients’ non-standard accounting periods have been
adjusted accordingly. Where a client is an investment
trust, its profit attributable to shareholders after tax
has been grossed up at the standard rate of income tax.
Fastest growing clients The average rate of increase in
clients’ pre-tax profits has been used as the indicator
of growth because it combines the effects of improved
profitability and new acquisitions. The percentage increase
in each client’s latest reported profit over that for
its previous financial period has been averaged by adviser.
Clients with fastest growing earnings
Increasing earnings have been assessed by reference to
earnings per share growth, to identify advisers whose
clients have excellent management without the direct benefit
of acquisitions. Calculations for the earnings per share
placings have been made using the same method as for profit
growth.
