The firm, which specialises in private client and charity investment and wealth management, said it now has £1.24bn in discretionary assets, with its multi-asset funds experiencing the most substantial inflows.
These portfolios now make up nearly half (48%) of total funds under management, with £603m in total.
Simon Lough, chief executive officer at Heartwood, said: "We have experienced yet another year of strong performance, and have maintained significant inflows despite challenging economic headwinds. These inflows show the confidence that our clients have in us, and have been the major driver of growth within the company."
The firm has reorganised its client-facing divisions following its growth to enable a dual focus on private clients and intermediaries, developing propositions and service models that match the differing requirements of each, it said.
Heartwood Private Wealth Management, led by Simon Dixon, will service Heartwood’s private clients. It encompasses wealth structuring, tax, pensions and estate planning expertise together with investment management and advice.
Heartwood Investment Management, led by Noland Carter, will have two roles: it will continue to manage the investment management proposition for clients of Private Wealth Management; and will also have responsibility for distribution channels targeting intermediaries and professional advisers.