Ireland 
USA Evelyn Partners announces continued positive new business inflows and growth in operating income
Evelyn Partners is pleased to announce a trading update for the three months ended 30 September 2022. The business has delivered an uplift in operating income and continued strong new business inflows, against a backdrop of ongoing macroeconomic uncertainty and market volatility.
Evelyn Partners, formerly known as Tilney Smith & Williamson, is pleased to announce a trading update for the three months ended 30 September 2022. The business has delivered an uplift in operating income and continued strong new business inflows, against a backdrop of ongoing macroeconomic uncertainty and market volatility.
Highlights
- Group operating income in Q3 of £151.7 million was ahead of the same period last year (Q3 2021: £140.4 million), driven by continued growth in both Financial Services and Professional Services
- Net new asset inflows of £531.0 million in Q3 increased by 6.2% compared to the same period last year (Q3 2021: £500.0 million), equivalent to an annualised growth rate of 4% of opening assets
- Assets under Management & Advice (AuMA) were £52.0 billion at 30 September 2022 reflecting market movements (30 September 2021: £56.0 billion)
Chris Woodhouse, Group Chief Executive, commented:
“The challenging macroeconomic environment continued into the third quarter, with adverse market movements impacting AuMA, which declined to £52 billion. However, despite this we delivered a robust performance and continued to generate significant new asset inflows from clients, with net inflows of £531 million in the quarter, up 6.2% on the same period last year (Q3 2021: £500 million). Alongside new business and operating income growth from our Financial Services division, our Professional Services business continued to deliver excellent performance. Progress across both our key divisions fed through to Group operating income of £151.7 million in Q3, up 8.0% compared to the third quarter of 2021, and 6.2% ahead for the nine-months to 30 September compared to the same period last year. The performance demonstrates the resilience of our unique business model, and the importance of our role as trusted adviser to both our private and businesses clients.
“Sound financial advice is particularly highly valued in difficult macroeconomic conditions, and we continue to guide our clients through this period of uncertainty. As a firm we are continuing to invest in growing the business and believe that the breadth of our offering and the calibre of our team positions us well for the future.”
Assets under Management & Advice (£ bn)
Operating Income (£ m)
About Evelyn Partners
Evelyn Partners is the UK’s leading integrated wealth management and professional services group, created following the merger of Tilney and Smith & Williamson in 2020. With £59.1 billion of assets under management (as at 31 December 2023), we are one of the largest UK wealth managers ranked by client assets and the seventh largest accountancy firm by ranked by Group fee income (source: Accountancy Age 50+50 rankings, 2023).
We have a network of offices in 30 towns and cities across the UK, the Republic of Ireland and the Channel Islands. Through our operating companies, we offer an extensive range of financial and professional services to individuals, family trusts, professional intermediaries, charities, and businesses.
Our purpose is to ‘place the power of good advice into more hands’, and we are uniquely well-placed to support clients with both their personal financial affairs and their business interests. Our personal wealth management services include financial planning, investment management, personal tax advice and, through Bestinvest, we have a multi award-winning online investment service for self-directed investors. For businesses, our wide range of services includes assurance and accounting, business tax advice, employee benefits, forensics
For further information please visit: www.evelyn.com