Evelyn Partners booked a £600m net inflow for the last quarter, thanks to a record £2.6bn gross inflow.
The firm’s assets under management (AUM) closed 2024 at an all-time high of £63bn.
The fourth quarter inflows were 36.8% higher than the previous quarter’s £1.9bn, and 23.8% higher than the same quarter in the previous year (£2.1bn).
The £600m net inflow was a significant increase on the prior quarter’s £200m, but lower than the same quarter in 2023, when £700m was booked in.
The firm also confirmed the sale of its professional services business on 25 November as part of a strategic refocusing on wealth management is expected to complete at the end of March.
See more: Will the ‘year of the snake’ be prosperous for investors in Chinese stocks?
Paul Geddes (pictured), group chief executive, said: “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 full-year basis, we generated a record £8bn of gross new business, which demonstrates the quality of our propositions and the trust our clients place in Evelyn Partners,” he continued.
“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.”
