Assets under management for wealth manager and Financial Planner Evelyn Partners climbed to a record £64.6bn in the first half of the year.

That was up from £62bn in the first half of 2024 and £63.5bn at the end of last year.

Gross inflows in the six months were £3.7bn, up 7% year-on-year from £3.5bn in the first six months of 2024.

Net flows of £692m were 62.1% higher than the £427m in the first half last year, the company said in an update.

Paul Geddes, chief executive at Evelyn, said: “Against a backdrop of global macroeconomic uncertainty and outbreaks of market volatility, we’ve had a good performance year to date in 2025 while also successfully completing the sales of our Professional Services and Fund Solutions businesses.”

He said outflows were elevated reflecting the challenges faced by clients, including paying tax bills, reducing mortgages and gifting to reduce IHT liabilities; “but we did see a reduction in outflows in Q2 compared to the prior quarter.” He said as a proportion of AUM, Q2 outflows were lower than in both Q1 2025 and Q2 2024.

Mr Geddes said the firm has maintained its track record of consistently delivering net inflows every quarter since since it was created from the merger of Tilney and Smith & Williamson in September 2020.

Evelyn Partners AUMA
(£bn)

Source: Evelyn Partner. The company said that due to 'improved data collection', the prior period numbers presented have been restated to reflect the inclusion of AUM and flows relating to MPS assets on third-party platforms that had not previously been recognised in prior reporting. Organic growth rate represents new money as a percentage of opening assets, then annualised.

In May Evelyn launched a number of proposition initiatives to support direct clients and grow its presence in the financial adviser market. They included launching a Cash & Cautious Bond strategy and a low-cost Index MPS range into the IFA market.

Mr Geddes said the new propositions will help drive further growth in the second half of the year.

Looking wider across the market he said the changes to personal taxation announced in the October 2024 Budget, including the planned inclusion of unspent pension assets within the scope of HT from April 2027, continue to be key areas of discussion with clients.

Mr Geddes said: “With speculation mounting about further tax raising measures, there are high levels of engagement across new and existing clients and strong growth in our dual expert proposition where clients receive the support of both a Financial Planner and investment manager.”

Last month Evelyn Partners recruited Philip Lewis from Fisher Investments UK to take up the newly-created role of head of Financial Planning advice.

Evelyn Partners was created in 2020 when Tilney and Smith & Williamson merged. It has offices in 25 towns and cities in the UK, as well as the Republic of Ireland and the Channel Islands. It works with private clients, family trusts and charities, as well as providing investment solutions to intermediaries.