The Association of Professional Financial Advisers (APFA) has reported a profit for the second time since 2010, although surplus figures dipped by almost £90,000.
The adviser trade body recorded earnings of £797,842 during the year to June 2014 but managed to retain only £29,253 in profits after tax (pre-tax profit of £29,272).
In the previous year APFA achieved a surplus of £117,337 on a turnover of £977,000, up from losses of £142,500 in 2011/2012.
Director general Chris Hannant (pictured) said the organisation continued its focus on member recruitment and cost control throughout the year and was now making more of its money from member subscriptions and less from "supplementary member services supported by product providers".
Our purpose remains the same: to promote the interests of financial advisers and financial advice delivered in the interests of the client
APFA recorded expenses of £732,500 for the last year, down from £810,500 in the year before.
It had embarked on a cost-cutting strategy following the last negative results, which revealed an expenditure of more than £1.5m that year.
Hannant said: "Our finances are now in a healthier position, and we continue to work to bring in more members and to improve our revenue stream. At our core, our purpose remains the same: to promote the interests of financial advisers and financial advice delivered in the interests of the client."
APFA also said it has seen "a more open approach from the Financial Conduct Authority (FCA)" in comparison to the previous regulator but it was too early to judge what impact that will have on the advice market.
"We are concerned about the fall in adviser numbers and the ability of clients to access advice. Advisers need more stability to build their businesses and the FCA needs to consider how to achieve a regulatory framework which encourages saving and access to advice for those that most need it," wrote chairman John Gummer in the body's annual report out in October.
APFA will also continue to lobby the FCA on the cost of regulation, it said. It undertook a survey in June which indicated smaller firms are spending 12% of their income on regulatory costs.
"We estimate that this means the average client is paying in the region of £170 each year towards the cost of regulation," said Hannant.
"We will repeat the survey next year so we can start to build up a picture of the impact of costs on the sector - and consumers - over time."
He added: "As the sole representative body for the financial advice profession, we will work closely with members to ensure their voice is heard and that they have a regulatory environment in which they can prosper."
APFA celebrated its 15th birthday in the summer, prompting advisers to give their thoughts on how the organisation fared.
