UK wealth manager Evelyn Partners has just released its 2024 financial results.

UK wealth manager Evelyn Partners recorded a 6.2 per cent rise in assets under management reaching £63 billion ($82 billion) in 2024, up from £59.1 billion ($76.49 billion) in 2023. This was due to £1.3 billion of net inflows and £2.6 billion gains from positive market movements and investment performance.

“Despite geopolitical change and uncertainty, 2024 was very good year for Evelyn Partners, in terms of both business performance and also strategic transformation with the sales of our Professional Services and Fund Solutions businesses,” Paul Geddes, CEO, said in a statement. “Assets under management (AuM) closed at an all-time high of £63.0 billion (2023: £59.1 billion), driven by positive net new money and rising markets. This generated operating income in the continuing business of £497.4 million – up 6.4 per cent from last year.” 

“With the business now refocused solely on wealth management, I am very excited about the opportunities ahead for Evelyn Partners. Our ability to provide clients with the combined expertise of a financial planner and an investment manager from multiple locations is our flagship offering and a key differentiator,” Geddes continued. “The Autumn Budget was a pivotal moment for the business to support our clients, with the changes underlining the importance of expert financial planning advice alongside a robust investment strategy.” 

The firm agreed in 2024 to sell its professional services business to funds advised by Apax Partners, with the transaction expected to complete at the end of March 2025. This will simplify the business by allowing it to refocus on its core wealth management activities, where it believes the long-term growth potential is compelling.

In line with its policy of repositioning of the group, post the reporting period, the firm announced the sale of its fund solutions business to Thesis Holdings, with the transaction expected to complete in the first half of 2025.

The firm also added Andrew Middleton as chief marketing and commercial officer, Edward Park as chief asset management officer, Scott Kirk as interim CFO for the financial services business, as well as Bids Mahvelati as chief operations officer.