Assets at Evelyn Partners hit a record high amid tax raid speculation
Evelyn Partners has maintained its run of strong inflows, as speculation about pension changes drives customers to seek wealth management advice.
The wealth management firm generated £3.7bn of gross inflows in the first half of the year, a seven per cent jump from the £3.5bn recorded in 2024.
Assets under management (AUM) reached a record high of £64.6bn, up from £62bn.
Net flows reached £692m, a staggering 62 per cent higher than the £427m recorded in the same period last year.
Market performance added £0.4bn to AUM in the first half.
The firm also completed the sales of its Professional Services and Fund Solutions businesses during the period as part of its efforts to shift its focus solely to wealth management.
Paul Geddes, chief executive of Evelyn Partners, said, “Against a backdrop of global macroeconomic uncertainty and outbreaks of market volatility, we’ve had a good performance to date in 2025.”
“The changes to personal taxation announced in the October 2024 Budget, including the planned inclusion of unspent pension assets within the scope of Inheritance Tax (IHT) from April 2027, continue to be key areas of discussion with clients.
“With speculation mounting about further tax raising measures, there are high levels of engagement across new and existing clients and strong growth in our dual expert proposition where clients receive the support of both a financial planner and investment manager working together to deliver an integrated and holistic wealth management service.”
Evelyn Partners new initiatives
The firm launched several new initiatives in May, aiming to expand its presence in the financial adviser market and better support and appeal to a broader range of clients.
This included a Cash & Cautious Bond strategy, a portfolio which contains bonds alongside cash, gilts and stocks, and a low-cost index managed portfolio service, offering portfolios that cover the spectrum of investor risk appetite.
Geddes said, “The continued success of our business bears testament to our strength and scale in both financial planning and investment management…and our UK wide presence.”
“These enable us to provide clients with valued expert advice and investment management as they navigate both changes to the tax and system and a period when markets are adjusting to major upheavals in the global trade system.”