AIM advisers continue to lose business

ADVISERS have continued to lose AIM-listed clients for the second straight quarter, according to the latest report by Hemscott published today.

The AIM Advisers Rankings Guide for quarter two of 2010 shows London’s financial services sectors experiencing further client shrinkage.

Analysts said they were not surprised by the figures, following the turmoil the small cap market has experienced since the financial crisis.

The law firm sector lost 12 AIM-registered clients over the period and auditors lost 13, but stockbrokers managed to buck the trend by adding two clients.

Seymour Pierce remains the favoured stockbroker, finishing on top for the eighth consecutive quarter with 83 AIM clients. Meanwhile Astaire Securities dropped from third to fifth after losing five clients during the period.

Grant Thornton kept its place at the top of the AIM auditor rankings and enhanced its lead over KPMG, which lost six clients. Third-placed BDO Stoy Hayward lost three clients to finish the quarter with 126, while PricewaterhouseCoopers lost one client and ends the quarter with 99.

Pinsent Masons tops the AIM legal rankings for the seventh time in the last eight quarters.