Smith & Williamson has appointed advisers to look into the possibility of a public listing, it has confirmed in its latest annual report.

Gareth Pearce, chairman and group chief executive of S&W, said that having agreed to consider a public listing at the time it merged with NCL in 2002, financial advisers had been appointed 'to help us with this process'.

The news comes on the back of strong growth figures. Income for the year ended 30 April 2006 leaped to £134.3m from £105.8m a year earlier. Profit before tax climbed to £20.1m from £12.4m

Investment management and banking, alongside tax and business services, were the company's best performing service lines. Investment management grew 21.6% to £68.9m, while tax and business services grew £35.8% to £72.9m

Pearce's remuneration grew by 24%, to £727,849 from £585,335.