Despite a difficult market backdrop, the group said it continued to generate new business and grow year-on-year operating income by 7.8 per cent, with increases across each of the three operating segments (financial services, professional services and fund solutions). Year-to-date group operating income for the first nine months of 2023 of £490.8 million is 11 per cent ahead of the same period last year.

The firm said in its trading update this week that it had also made progress with both selective wealth management acquisitions and its succession planning programme for advisor-owned businesses seeking a long-term home for their clients and teams. In August, it completed the acquisition of boutique wealth manager Dart Capital in London and a deal in which the team from Millen Capital joined Evelyn Partners in Liverpool.

Meanwhile, net new asset inflows remained positive at £545 million in the third quarter and were 2.6 per cent ahead of the same period last year, the firm continued. Year-to-date net inflows of £2.3 billion are equivalent to an annualised growth rate of 5.8 per cent based on opening assets. Year-to-date gross inflows of £5.7 billion are equivalent to an annualised growth rate of 14.3 per cent based on opening assets, the firm added.

The third quarter also saw the firm implement its Consumer Duty programme. “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,” Paul Geddes (pictured), new CEO of Evelyn Partners, said welcoming the results.

The statement comes after the firm delivered record growth in both gross and net new assets in the first half of 2023. See here.