Evelyn Partners is looking to grow through acquisitions in 2023, its chief executive officer has said.
In a full year results statement yesterday (March 9), Chris Woodhouse said the group is looking to expand after a "resilient" year.
“Although economic headwinds remain, inflation is expected to continue to slow, and equity markets have had an encouraging start to 2023,” he added.
“We continue to explore opportunities to enhance growth through acquisitions in both the financial services and professional services sectors."
The group, which rebranded from Tilney Smith & Williamson last year, saw its operating income rise 7 per cent to £601mn in 2022.
Adjusted Ebitda dropped £4mn to £184mn, and closing assets under management decreased by nearly £5bn to £53bn.
Net flows in 2022 were £2.3bn
The group had previously said it recouped £1bn in assets in the final quarter of 2022 after market declines led to a £5bn drop in asset value.
"The group delivered a resilient financial performance in 2022, against a backdrop of challenging macroeconomic conditions and volatile markets," Woodhouse said.
Evelyn completed its rebrand in June last year after relocating 1,600 employees to a new headquarters in London.
Bestinvest, the company’s investment platform, was relaunched as a hybrid service
Woodhouse said: “We believe this acts as a differentiator in the market by addressing an underserved group, providing people who may have low confidence in their investment knowledge with the access to the support they need to become better investors and achieve their financial goals.”
sally.hickey@ft.com
