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Tilney's profits soared in 2017

Tilney's profits soared in 2017

Tinley has seen its assets, earnings and revenues all increase during 2017 - the first full year since a series of major deals.

In 2016 the company completed its acquisitions of Towry and Ingenious Asset Management.

Tilney's assets increased to £24.1bn at the end of 2017, from £22.4bn the previous year, with three quarters of assets now in discretionary mandates and funds.

Meanwhile revenues grew by 68 per cent to £226.5m and earnings before interest, tax, depreciation and amortisation doubled to £86.6m in 2017.

Chris Woodhouse, the chief executive of Tilney, said 2017 had proved to be a record year for the company.

He said: "After a record 2017, Tilney is in really great shape. We are exceptionally well positioned for continued growth with a full-service offering able to meet the needs of different clients, the ability to combine the benefits of scale with a highly personalised service delivered from offices across the UK and strong investment track records.

"Our integrated model of offering financial planning alongside whole-of-market investment management is a powerful combination, allowing us to provide our clients with a truly joined-up and holistic wealth management service."

Mr Woodhouse said Tilney's scale had allowed it to invest in a number of areas to improve client service and support its advisers.

He cited an investment of £15m in a new integrated wealth management technology solution to support the whole business as an example of this.

Mr Woodhouse said: "The wealth management profession has of course had to respond to a considerable amount of new regulation in recent years and that is a particular challenge for such a fragmented profession.

"Against this backdrop the benefits of scale are becoming increasingly apparent. With our highly scalable and profitable model, comprehensive range of services and dual expertise in financial planning and investment management we are confident about the future."

Tilney has said the integration of Towry has now been completed and the business is looking to boost its growth, both through acquisitions and hires.

damian.fantato@ft.com