Tilney Smith & Williamson saw its assets under management increase 7% in the six months to the end of June thanks to its merger and the acquisition of HFS Milbourne.
The firm reported AUM of £54.8bn at the end of June, compared with £51.2bn at the end of December 2020.
It saw net new inflows of £1bn during the period, compared with £400m in H1 2020.
Group operating income increased 157.5% to £261.9m, up from £101.7m in H1 2020, with Smith & Williamson contributing £139.1m of that following the merger in 2020.
The financial services business generated £203.7m of operating income, up from £101.7m in 2020, while the professional services and fund administration segments accounted for £51.3m and £6.8m respectively.
The acquisition of HFS Milbourne added £376m to assets in the second quarter.
Tilney Smith & Williamson chief executive Chris Woodhouse (pictured) said the company was making “good progress” in consolidating offices in locations where there was overlap and remained on course to move into its new headquarters at 45 Gresham Street, London in spring 2022.
He also alluded to the firm’s “digital transformation agenda” and the start of a multi-year plan to create “leading-edge and scalable front-to-back financial services and professional services platforms”.
Woodhouse said: “Following on from the merger of Tilney and Smith & Williamson last September, the first half of 2021 has been a positive period for the group, characterised by a combination of sharply rising equity markets and very healthy new business generation in both our financial services and professional services businesses.
“Alongside strong organic growth, we made further progress with our M&A strategy with the completion of the acquisition of HFS Milbourne which added £376m AUM in the second quarter.”
