Evelyn Partners has announced a considerable 5.9% growth in gross new assets for Q1, marking an impressive year-on-year increase that brought the firm’s assets under management and advice (AUMA) to an all-time high of £61.8bn by March 31st. This rise represents a 13.6% growth over the past year. The firm’s gross inflows surpassed the previous year’s number, reaching £1.8bn, and showcased an annualized growth rate pegged at 12.2% from the commencement of the period. Despite higher withdrawals akin to trends among peer institutions, Evelyn Partners maintained positive net inflows, attracting £0.3bn, albeit at a slightly reduced annualized growth rate of 2.0% considering the opening assets. Operative income for the first quarter experienced a 9.5% increase to £178.0m, with expansions observed across its trio of business segments: Financial Services, Professional Services, and Fund Solutions. CEO Paul Geddes highlighted the resilience of new business generation amid headwinds such as higher inflation and interest rates, attributing the success to the firm’s consistent performance post-merger in late 2020. The group’s Professional Services segment, in particular, reported a whopping 21.7% growth in operating income, fueled by organic momentum and strategic acquisitions—spotlighting the company’s ongoing quest to incorporate high-caliber accountancy and tax advisory firms to augment its regional presence. The robust start for Evelyn Partners has emboldened its leadership, with Geddes expressing cautious optimism for the macroeconomic climate, banking on a potential downturn in inflation rates and hopes for rate reductions in the future.

Financial Services, Professional Services,United Kingdom

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