Financial services company IFG Group has repeated that it expects to deliver "meaningful growth" in profitability this year compared to 2014.

IFG Group said in an interim management statement today that it continues to perform in line with expectations. The trading update covers the period from January to October.

The company said that total assets under advice and administration has increased to £22.9 billion, up 14% since the start of the year.

It said its James Hay Partnership business - a UK retirement wealth planning platform provider - continued to see growth in new activity as it added 11,000 new clients in the ten months to October, double the figure the same time last year.

Assets under administration at James Hay rose to £18.9 billion and the company noted that the net inflows of £1.6 billion in the third quarter was the highest recorded in the UK.

Meanwhile, its independent financial adviser business Saunderson House also continued to see growth in the ten month period. IFG said it now services 1,800 clients, up 13% from the same time last year.

IFG also said today that the previously announced sale of the Irish General Insurance business is expected to complete before the end of the year.

"We continue to see the benefits of our more sharply focused strategy and remain on track to deliver growth in clients, assets, revenues and profits in 2015," commented the company's CEO Paul McNamara.

"We are well positioned with two profitable businesses, each serving clients with distinctive propositions in attractive segments of the market. We have a strong and liquid balance sheet to support continued growth and investment as we look forward to 2016," Mr McNamara added.