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Evelyn Partners revealed that year-to-date group operating income increased by 11% since the same period last year to £490.8m for the first nine months of 2023.
During Q3 ended 30 September, Evelyn Partners also generated £1.8bn worth of gross inflows for the, as its operating income during the period rose 7.8% year-on-year.
The firm attributed its operating income increase to heightened demand across each of its three operating segments: financial services, professional services and fund solutions.
Gross inflows for the period increased 38% on the same period last year. Year-to-date gross inflows have reached £5.7bn, equivalent to an annualised growth rate of 14.3% based on opening assets.
The firm also revealed that net new asset inflows remained positive at £545m in Q3 and were 2.6% ahead of the same period last year. Year-to-date net inflows have hit £2.3bn and are equivalent to an annualised growth rate of 5.8% based on opening assets.
On 31 August, the firm completed its acquisition of Dart Capital, which added £755m in assets.
In addition, Assets under Management and Advice (AuMA0 increased to £55.6bn by 30 September, increasing 6.9% year-on-year from £52bn in the same period last year.
Paul Geddes, chief executive of Evelyn Partners, said: “It’s a privilege to be the new CEO of Evelyn Partners. These strong results for the third quarter are testament to the team’s expertise and hard work for our clients. Since joining in July, I’ve visited 14 of our offices to meet many of our talented people and fully immerse myself in our business.
“I’ve been impressed to find a company with a clear purpose and colleagues who are highly professional and committed to delivering the best outcomes for clients. Our purpose of ‘placing the power of good advice into more hands’ explains everything you need to know about what we do and what we are trying to achieve.”
He added: “During a challenging period for both the economy and financial markets, we’re putting our experience to work to help people and businesses shape and protect their futures.”
