Less than a year since taking on its new brand identity, the London-listed wealth management and professional services group reported its first-quarter 2023 results.

Evelyn Partners, the UK-based wealth management group, said it logged a 45.1 per cent year-on-year rise in net inflows for the first three months of 2023, standing at £673 million ($840.5 million).

The rise in net inflows translates into an annualised rate of 5.1 per cent, the London-listed firm said in a statement yesterday. 

Operating Income grew by 10.6 per cent year-on-year to £162.5 million, with strong performance in both financial services and professional services.

Assets under management and advice increased by £1.4 billion to £54.4 billion over the quarter (31 December 2022: £53.0 billion).

The firm said operating income in its professional services arm stood at £45.2 million in Q1, rising 20.9 per cent compared with the same period last year.

In June last year Tilney, Smith & Williamson rebranded as Evelyn Partners following a series of merger deals of a kind that have affected the UK wealth industry in recent years. 

“In less than a year since the group re-branded to Evelyn Partners, our new brand has been quickly established, supported by marketing, advertising campaigns and media coverage, with awareness levels already at the same level as the legacy brands,” Chris Woodhouse, group CEO, said.

“We see the business as exceptionally well-positioned to continue growing at a time when there is high demand for expert advice from individuals, families and businesses,” he said.