Wealth manager Tilney says 2018 was one of strong financial performance and strategic progress, in the face of volatile markets that caused a dip in assets.
Figures for the year ended 31 December place assets under management at £23bn, down from £24.1bn in 2017.
Last year saw £2.9bn in gross new inflows for the group against £3.2bn for the 12 months preceding that.
Revenues were up from £226.5m to £228.9m which was attributed to its raft of recent hires and use of new technology systems including rolling clients to Iress’ Xplan.
Further moves were made in 2018 to expand Tilney’s advice offerings under former Royal London chief operating officer Andy Grant, who was brought in to the business as its financial planning head last August.
Tilney hired new advisers across its London, Manchester and Aberdeen offices in the second half of the year and also expanded its Edinburgh-based phone advice team.
The group also launched a five-strong ultra-high net worth adviser team in October.
The group ended its financial year with the acquisition of investment and planning firm Index Wealth Management in December, which brought in £243m in assets.
Tilney chief executive Chris Woodhouse signaled further acquisitions in December and says today that the 2018 results are a success and the firm is still eyeing more buys.
He says: “It was another year of strong financial performance against the backdrop of volatile markets and political uncertainty; we completed a major systems upgrade and continued to invest in the business.
“We added to our talent pool with new hires and acquisitions and we continue to seek further opportunities to expand in the coming year.
“I believe we are exceptionally well-positioned to capitalise on opportunities ahead.”