Evelyn Partners’ assets under management (AUM) reached a record high of £64.6bn at the end of the first half of 2025, its half-year results report has revealed.

This represents a £2.6bn increase compared to the end of H1 2024, and growth of £1.1bn compared to the end of the 2024 financial year.

The wealth management firm’s gross inflows were £3.7bn in the first half of 2025, representing a 7% year-on-year increase from £3.5bn in H1 2024.

However, this was partially offset by gross outflows of £3bn during the same period, which was a slight fall from the £3.1bn of gross outflows in the first half of last year.

This resulted in Evelyn Partners’ net flows totalling £693m in the first half of 2025, a 62.1% year-on-year increase compared to the £427m of net flows in H1 2024.

Evelyn Partners chief executive officer, Paul Geddes, said the firm had seen good performance in the year to date while also completing the sales of its Professional Services and Fund Solutions businesses.

"The first six months of the year saw gross inflows of £3.7bn," Geddes continued.

"Outflows, however, were also elevated reflecting the challenges faced by clients, including paying tax bills, reducing mortgages and gifting to reduce inheritance tax (IHT) liabilities; but we did see a reduction in outflows in Q2 compared to the prior quarter.

"As a proportion of AUM, Q2 outflows were lower than in both Q1 2025 and Q2 2024.

"The changes to personal taxation announced in the October 2024 Budget, including the planned inclusion of unspent pension assets within the scope of IHT from April 2027, continue to be key areas of discussion with clients.

"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 working together to deliver an integrated and holistic wealth management service."

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