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Evelyn Partners has reported a group operating income in Q4 of £158.6m, up 9.8% from £144.5m in the same period last year, for the three months ended 31 December 2022.
It said the performance is driven by “continued strong performance from both the financial services and professional services businesses”.
On a full-year basis, operating income for the year rose 7.1% to a record level of £600.8m.
Gross inflows in Q4 were £1.4bn, representing an annualised growth rate of 11.1% on opening assets. Net inflows in Q4 were £625m, equating to an annualised growth rate of 4.8%.
Across the full-year, gross inflows were £5.4bn and net inflows were £2.3bn in 2022. The latter represented an annualised growth rate of 4.0% for the year
Chris Woodhouse, group chief executive, said: “We ended 2022 with continuing strong new business inflows and growth in operating income in Q4. This rounded off a year of excellent delivery against our strategy, in which we saw £5.4bn of gross new money won and operating income reach an all-time high of £600.8m.
“Our strong performance, against a difficult market backdrop, is testament to the quality and breadth of our advice-led proposition and demonstrates the positive momentum in our Financial Services and Professional Services businesses.”
He added: “2022 was a year of considerable development for the business. We successfully executed the rebrand, which has been well-received. We made continued progress with our digital innovation agenda and have further enhanced our client proposition. The latter included the relaunch of Bestinvest as a hybrid service combining best-in-class digital tools with free coaching, low-cost advice and the launch of our new Smart fund range.
“Our Retiring IFA programme, which is designed to provide financial advisers who own their businesses with a long-term home for their clients ahead of their own retirement, also progressed well during the year, with six deals completed in 2022. This takes the total ‘RIFA’ deals completed to eight since launching the initiative at the end of 2021 and will support future inflows of AuMA.
