The increase was attributed to the strength of the recent merger, and the company’s “digital transformation agenda”.
As well, group operating income increased 157.5% to £261.9m (H1 2020: £101.7m), with Smith & Williamson contributing £139.1m of operating income during H1 2021 following on from the merger in 2020.
The firm also reported net new business inflows of £1.0bn (H1 2020: £0.4bn), representing 3.9% of opening assets on an annualised basis.
After the merger, their financial services segment generated £203.7m of operating income, professional services segment generated £51.3m, and fund administration segment generated £6.8m.
Chris Woodhouse, chief executive, said: “Following on from the merger of Tilney and Smith and Williamson last September, the first half of 2021 has been a positive period for the group, characterised by a combination of sharply rising equity markets and very healthy new business generation in both our Financial Services and Professional Services businesses.”