Evelyn Partners Group Limited Trading update for the three months ended 31 December 2024

Evelyn Partners today announces a trading update for the three months ended 31 December 2024, which completes the full-year AUM and asset flows profile for 2024.

Highlights 

•    Gross inflows of £2.6 billion in Q4 were 36.8% higher than the previous quarter (Q3 2024: £1.9 billion) and 23.8% higher than the same quarter in the previous year (Q4 2023: £2.1 billion), For the 12-months ended 31 December 2024, the business achieved record gross inflows of £8.0 billion (2023: £7.8 billion), an annualised growth rate of 13.5%. 

•    Net inflows remained positive in Q4 at £0.6 billion, a significant increase on the prior quarter (Q3 2024: £0.2 billion) but were lower than the same quarter in the previous year (Q4 2023: £0.7 billion). On a full-year basis, net inflows in 2024 were £1.3 billion (2023: £3.1 billion) continuing the pattern of consistently positive net flows every quarter since 2020 and representing an annualised growth rate of 2.2%.

•    The combination of £0.6 billion of net inflows and positive market movements in Q4 increased AUM to a record high of £63.0 billion at the end of December 2024 (31 December 2023: £59.1 billion).

•    Announced the sale of our Professional Services business on 25 November 2024 as part of a strategic refocusing of the Group on wealth management. The transaction is expected to complete at the end of Q1 2025.

Paul Geddes, Group Chief Executive Officer, commented:

“The final quarter of 2024 was a strong finish to the year for Evelyn Partners, with the highest quarterly gross inflows since the 2020 merger that created the group. The Autumn Budget had a significant impact on the business, with very high levels of client engagement and both elevated inflows and outflows as clients reorganised their affairs. On a net new money basis, Q4 was the strongest quarter of 2024, with net inflows of £0.6 billion. 

“On a full-year basis, we generated a record £8.0 billion of gross new business, which demonstrates the quality of our propositions and the trust our clients place in Evelyn Partners. However, in common with other wealth managers, outflows were also higher than normal in 2024 as clients grappled with higher interest rates and borrowing costs. It was a strong year for markets and investment performance, which alongside continued net inflows, propelled our assets under management to an all-time high of £63.0 billion at the end of the year.

“The recently announced transactions to sell our Professional Services and Fund Solutions businesses will see Evelyn Partners’ focused solely on wealth management, where we are excited about the opportunities ahead. We have conviction in the long-term structural growth of the wealth management sector but are also focused on the compelling near-term demand for advice as a result of the changes in the Autumn Budget. This has underpinned the need for expert financial planning advice, alongside a robust investment strategy – evidenced by our strong inflow performance and high level of client engagement in recent months. With our strength and depth in both financial planning and investment management, and our growing presence working with third-party financial advisers, we are well placed to help both existing and new clients achieve their goals in a world of increasing tax complexity and ever-evolving financial markets.”  


Assets under Management & Advice (£ billions)