Ascot Lloyd has reported total funds under management of £9.6bn in 2022, down from £9.8bn the year before.
In its results for the year ending December 31, 2022, Ascott Lloyd saw total group revenues of £80.6mn, up from £80.3mn in 2021.
Over the course of 2022, the firm completed six acquisitions - more than 35 since 2017 - taking the number of core clients to almost 24,000.
Group adjusted Ebitda was £20.8mn, down from £23.1mn.
Nigel Stockton, CEO of Ascot Lloyd, said: “Against a challenging market backdrop, we are pleased to report another year of strategic progress, including the completion of six acquisitions in 2022.
“We also continued to invest in our business, most notably in our technology and digital capabilities to enhance our existing offering as well as our ability to onboard and organically acquire new clients.”
This year Ascott Lloyd has already bought three firms, with a number also at an advanced stage.
Recently, it bought Swansea-based Portfolio Financial Consultancy, adding £323mn assets under management to the group.
Meanwhile, in March, Ascot Lloyd launched its own adviser platform with the help of technology provider SS&C.
Stockton said: “While the volatile market environment did impact our performance in 2022, I believe that our results also demonstrate the resilience and strength of our business, with steady topline performance and overall client growth.
“This is underpinned by a relentless focus on service and client outcomes and, against continued market uncertainty, our ability to effectively advise clients to help them achieve their investment objectives is central to achieving our strategic goals.”
He said this performance is enabling the firm to continue investing in both business and new acquisitions.
"We are confident of delivering strong organic and inorganic growth with our commitment to client excellence acting as the foundation for this.”
sonia.rach@ft.com
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