IFG Group added that the historical pension transfer review in Saunderson House was now "substantially complete" with the remediation process due to start in the second half of this year, with £1.6m already put aside for this issue.
Ms Purves added that Saunderson House and James Hay were in the midst of a review of their longer-term strategies, with an update on this expected later in 2018.
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She said the company had identified potential savings of around £1m from implementing a "devolved group governance" structure, mainly through a reduction in IFG Group's property footprint and in board and executive team costs.
damian.fantato@ft.com
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