Advice drives 12.6% rise in operating income for Evelyn Partners
Group operating income totalled £327.2m during the period, with 9.7% growth in financial services as «clients continued to see the value of expert advice», the firm said.
Evelyn Partners buys City of London boutique Dart Capital
Over the first half of the year, the firm delivered £3.8bn of gross inflows, up 40% year-on-year, which it said was due to «the value of the advice it provides».
Meanwhile, net inflows reached £1.8bn, marking a 63.6% increase from £1.1bn in H1 last year.
Adjusted earnings before interest, taxes, depreciation and amortisation increased to £87.8m, compared with £86.2m in H1 2022.
The firm said it currently has a «strong focus on organic growth, helping clients navigate a higher tax environment through financial planning».
Moreover, Evelyn Partners said it has been actively pursuing its mergers and acquisitions strategy. During this period, the company completed three professional services transactions and signed an agreement to acquire boutique wealth manager Dart Capital.
The firm added it expected the move to strengthen its regional presence and bring in complementary capabilities to enhance its service offerings.
Evelyn Partners Active MPS team ups allocation to fixed income
Continuing with its expansion, Evelyn Partners welcomed the team from discretionary manager PPM Wealth as part of its scheme for retiring owners of advice businesses. This move added to its growing presence in the Glasgow office.
The firm is now under a new chief executive, Paul Geddes, who succeeded Paul Woodhouse earlier this month.
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