Financial services company IFG Group said today that both its James Hay and Saunderson House businesses in the UK continue to attract new clients and assets. 

In an interim management statement for the three months to March, IFG Group said that total assets under administration and advice have increased to £28 billion.

This is a rise of 17% compared to the same time last year. 

IFG said that assets under administration in James Hay increased to £23.3 billion, with inflows from new and existing clients of £0.8 billion.

It said that James Hay's new clients were 45% ahead of the same period in 2016.

Meanwhile, assets under advice in Saunderson House rose to £4.7 billion, up from £4.6 billion in December 2016. 

It said that Saunderson House now serves 2,017 clients, up from 1,956 in December 2016.

"The group continues to attract an increasing level of high quality new business which has driven growth in assets under administration and advice, reflecting the benefits of a focused distribution strategy in James Hay and the discretionary offering in Saunderson House," commented its chief executive John Cotter. 

Mr Cotter said that while changes to interest rates in 2016 impacted the group's revenue trajectory and masked the underlying performance of the business short-term, this is being mitigated while it continues to drive improvements to its propositions and operating capability. 

Shares in the company moved higher in Dublin trade today.