Evelyn Partners hit record assets under management and advice at £59.1bn at the end of 2023.
In a trading update published today (January 31), the firm said it closed up from £53bn at the end of 2022.
Gross inflows stood at £2.1bn in its financial services business in the final quarter of 2023, almost 50 per cent more than the £1.4bn recorded in the same period in 2022.
Overall in 2023, Evelyn Partners’ financial services business saw gross inflows of £7.8bn and net inflows of £3.1bn.
Meanwhile in its professional services business, the full year operating income increased to £183.2mn, up from £158.8mn in 2022.
Paul Geddes, group chief executive, said: “For the full year, we saw strong demand for our services and expertise during what was an undoubted time of uncertainty for the economy and markets, as well as a period where the tax burden increased.
“This demonstrates the value clients place on our services and the strengths of our two core businesses, financial services and professional services, in their respective markets.”
Q4 also saw the purchase of accountancy and tax advisory firms Creaseys and Harwood Hutton completed.
Geddes added: “While the economic outlook remains weak, the headwinds of last year are easing as inflation subsides and interest rate cuts are on the horizon.
“This should support both improved confidence from clients and the markets during 2024.
“Evelyn Partners has already performed well in tough market conditions and is well-positioned to benefit from improving sentiment given the strength and breadth of our propositions and the quality of our people.”
tara.o'connor@ft.com
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