Evelyn Partners books net flows of £545m as assets hit £55.6bn

Gross inflows were up 38% to £1.8bn

Paul Geddes Evelyn Partners
Paul Geddes


Evelyn Partners has reported positive net flows of £545m for the quarter ending 30 September.

The new money brought the firm’s total assets under management up to £55.6bn. Gross inflows were up 38% to £1.8bn for the quarter, and up 14% to £5.7bn for the year.

The wealth manager and advisory firm also reported group operating income of £163.6m in the third quarter, 7.8% up on the same period last year.

See also: Evelyn Partners appoints director of responsible investment

The recent acquisition of Dart Capital was finalised on 31 August, adding £755m of assets, Evelyn Partners said.

The update follows the announcement that Katrina Brown has been hired as director of responsible investment.

Group chief executive Paul Geddes commented: “Despite difficult market conditions, we continued to generate significant new business.”

“Pleasingly, we also saw growth in operating income across each of our three business segments, including continued double-digit growth from our fast-growing Professional Services business which has seen operating income over the first nine months of 2023 increase by 20.4% compared to the same period last year.

“We also made further progress with both selective wealth management acquisitions and our succession planning programme for adviser-owned businesses seeking a long-term home for their clients and teams,” Geddes added.

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He also noted that the third quarter also saw the firm implement its Consumer Duty programme ahead of the 31 July deadline.

“While the macro-economic environment is clearly experiencing headwinds, these are times when clients greatly value trusted expert advice and professional investment management’” Geddes said.

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