The UK investment and financial planning group reported a robust set of results for 2015.

Tilney Bestinvest generated profits of £17.6 million ($25.8 million) in 2015, its first full year of trading since the merger of Tilney and Bestinvest in August 2014. 

The group generated revenues of £69 million compared to £67.6 million in 2014 from the Tilney and Bestinvest businesses. The growth was largely thanks to £630 million of net new assets, a 7.2 per cent increase on opening assets.

Tilney Bestinvest saw its total assets under management jump 4.5 per cent year-on-year to £9.4 billion. It boosted its advisor headcount by 20 per cent in 2015 through both recruitment of financial planners across the UK and the acquisition of Webb Holton in the Midlands. 

“Our investment performance has continued to be very good, organic growth has been strong and we have been investing for the future which will enable us to further enhance the service we provide to clients and accelerate future growth,” said chief executive Peter Hall in the results statement. 

Recent purchases made by the group include those of UK-based Ingenious Asset Management and of Towry, which is expected to complete in the second half of the year. It has completed its acquisition of UK-based Ingenious. The Ingenious deal raises Tilney’s assets further to £11.2 billion. The combined business will look after more than £20 billion of affluent and high net worth client assets.