Evelyn Partners delivers record financial performance over half year

Evelyn Partners said strong growth in operating income combined with a disciplined approach to cost management resulted in an 18.3 per cent increase in adjusted EBITDA (earnings before interest taxation depreciation and amortisation) to £103.9m.

Paul Geddes, Group Chief Executive, commented: “We have made a great start to the year supporting our clients in addressing their financial needs and delivering strong financial performance.

He added: “In professional services, we continued to see strong organic growth in fee income and the benefit of the five acquisitions we completed last year coming through.

"We will build on this over the coming months, with the recently announced acquisition of the Manchester, Leeds and Newcastle offices of Haines Watts which has brought us 150 new colleagues. Mr Geddes said: “In our financial services business, positive market movements in the first half and resilient new business generation have delivered higher AUM and operating income.

“Since the merger in 2020, Evelyn Partners has demonstrated the strength and resilience of its business model in challenging market conditions, including during the pandemic and subsequently in an environment of high inflation and interest rates.

"Despite this we have delivered net inflows of new assets every quarter since the merger.”

Mr Geddes said the group’s professional services business had shown consistently strong growth in operating income, offering a broad range of services to private clients and businesses.

He added: “With inflation having settled back and the first interest rate cut made in the UK, there are good grounds to be positive on the medium-term outlook despite the turbulence seen in global equity markets in recent days.

He added: "Evelyn Partners is well positioned to support clients navigate periods of market volatility and with potential changes to tax and pensions on the horizon we also expect to see strong demand for financial advice in the second half of the year.”

The group has offices in 30 UK towns and cities, as well as the Republic of Ireland and Jersey.

The group offers a range of financial and professional services to individuals, family trusts, professional intermediaries, charities, and businesses.

Its personal wealth management services include financial planning, investment management and advice, personal tax advice and, an online investment service for self-directed investors.