IF the independent financial advice industry was ever in need of a passionate advocate, Stephen Kavanagh would be an obvious candidate.

The Chase de Vere chief executive admits he was not always convinced of the merits of the firm remaining truly independent in terms of the range of products it offers clients.

However, while some financial advisers have tied themselves to the restricted mast in the post-Retail Distribution Review era, allowing them to make a margin from the sale of their own products following the demise of commission, Chase de Vere has made a virtue of giving its clients the full spectrum of products out there on the market. And Mr Kavanagh is absolutely convinced it is the right way to go, as indeed are the advisers he oversees. “We are the agent of the client, rather than the agent of the product provider, and they [Chase de Vere advisers] are proud of it,” he said. “We are almost holier than thou about it, because we’ve never moved our beliefs; we’ve never moved away from being the agent of the client.”

There will obviously those within the industry who take a different view, but there seems little doubt that it is the right strategy for Chase de Vere. The firm, whose 2017 accounts are expected to show an increase on the £5.8m of profit it made in 2016, has almost become a magnet for peers which want to be part of the independent movement it represents.

Having acquired Medical Money Management in October, Mr Kavanagh expects to complete two more deals in the months ahead. It is hard to imagine they will be the last.