Evelyn Partners Q3 income hits £151.7m

Evelyn Partners has reported its group operating income for the three months ended 30 September 2022 (Q3) increased 8% year-on-year from £140.4m to £151.7m, and is 6.2% ahead for the nine-months to 30 September.

Overall, Professional Services saw the largest segment growth of 15.71%, with income increasing from £33.1m to £38.3m, and Financial Services saw 6% growth from £104.9m to £111.1m. Meanwhile, Fund Solutions saw a 4% decline year-on-year from £2.4m to £2.3m.

Additionally, net new asset inflows increased by 6.2% year-on-year from £500m to £531m in Q3, equivalent to an annualised growth rate of 4% of opening assets.

However, Assets under Management and Advice (AuMA) declined 7% year-on-year from £56bn to 52bn against a backdrop of ongoing macroeconomic uncertainty and market volatility.

Chris Woodhouse, group chief executive, said: “The challenging macroeconomic environment continued into the third quarter, with adverse market movements impacting AuMA, which declined to £52bn. However, despite this we delivered a robust performance and continued to generate significant new asset inflows from clients.

“Sound financial advice is particularly highly valued in difficult macroeconomic conditions, and we continue to guide our clients through this period of uncertainty. As a firm, we are continuing to invest in growing the business and believe that the breadth of our offering and the calibre of our team positions us well for the future.”