Timeline has reported an operating loss of £3.65mn in 2023 - an increase from the year before.
In its company accounts for 2023, the company reported it had made a loss of £3.5mn, a £200,000 rise compared to 2022 when the loss was £3.3mn.
When looking into the accounts further, the business saw an increase in operating loss from £3.46mn in 2022 to £3.65mn in 2023.
Between 2022 and 2023 the number of employees at the firms increased from 25 to 33 with the number of directors decreasing from three to one.
As a result of the increase in employees, wages and salaries also rose from £1.6mn in 2022 to £2.6mn in 2023.
The results also revealed directors’ remuneration had decreased from £188,250 in 2022 to £91,000 in 2023.
In May this year, Timeline launched its adviser platform, Platform 3.0, which would be fully integrated with the firm's existing planning and portfolio management technology.
Speaking at the time, Timeline chief executive Abraham Okusanya, said: “Timeline Platform is the integrated ecosystem built for modern financial advisers. We’re creating something magical.
"A platform that’s intuitive, that pulls through data seamlessly and is fully integrated with our existing planning and portfolio management tech.
"We’ve thoughtfully crafted a unified platform that fades into the background, putting the adviser-client relationship front and centre, right at its heart.This is not just another 'me-too' platform — it's what we call Platform 3.0.”
Elsewhere, Nextwealth’s MPS comparison report revealed Quilter, Tatton, and Timeline added a combined £4bn to their asset base in the six months since Nextwealth last ran the numbers in December 2023.
Timeline portfolios came in sixth place overall recording £5,244,336,454 in assets under management.
alina.khan@ft.com
