UK-based Artorius Wealth releases its financial results.

Despite the challenging environment, Artorius Wealth reported a year of growth with a £280 million ($340 million) uplift in assets under management to £1,780 million for the year ended April 2023.

Focused on a UK regional strategy, the firm said it has grown AuM by £1 billion organically over the last three years, whilst increasing recurring revenue from £4.9 million for April 2021 to £8 million for April 2023. 

Recurring revenue increased 20 per cent or £1.4 million from £6.6 million to £8 million, reflecting the continued growth in AuM due to demand for the personalised service which puts planning at the core of everything the firm does for its clients. Transactional revenue fell from £1 million to £0.1 million. This reflects the business decision to pivot away from certain non-core revenue lines, as well as the tougher transactional environment for credit and private market business since autumn 2022.

AuM increased organically by £280 million to £1,780 million, mainly from client inflows and investment performance within its discretionary, advisory and family office offering, as well as superior investment returns relative to the peer group as measured by asset risk, the firm said.  

Costs were £8.6 million, an increase of 17 per cent or £1.3 million year-on-year, plus a number of hires to support the business to meet the next phase of growth. Reported FTE had increased by nine to 66 employees by the financial year end, the firm said.  

"The business continues to see strong demand for high quality wealth planning and advice from families with complex needs. The business is now more robust with the ability to confidently scale to £3 billon and beyond in the short to medium term with a platform that can leverage its operational gearing," Ian Bennett, group finance director, said.