Wilmslow-based Tatton Asset Management plc said its assets under management increased 34.9% to £19.948 billion in the year to September 2024.
Announcing interim results for the six-months ended September 30, Tatton said first-half revenue increased 23.7% to £21.6 million, adjusted operating profit rose 22.8% to £10.894 million, and interim dividend will rise 18.8% to 9.5p.
Profit before tax, after the impact of share-based payment charges, amortisation of intangibles relating to acquisitions, and net finance income, increased to £10.102 million (Sep 2023: £7.693m).
Tatton said its current assets “under management and influence” figure at November 2024 is £20.605 billion and year to date net inflows are £2.221 billion.
It said organic net inflows were £1.832 billion (Sep 2023: £0.910bn) “an annualised increase of 22.1% of opening AUM with an average run rate of £305m per month.”
Tatton said its IFA firms increased 6.5% to 1,038 and the number of accounts increased by an annualised 10.4% to 139,330.
Tatton CEO Paul Hogarth said: “We have delivered record net inflows of £1.8bn in the first half of the year, which is an exceptional achievement for Tatton and I could not be more delighted.
“Our record organic net inflows driven by our strong proposition, consistent investment performance and market leading service have underpinned our performance in this period.
“We continue to deliver against our strategic objectives, positioning the business for long term growth on an organic basis and we remain well positioned to execute our New Roadmap to Growth target of £30bn AUM/I by March 2029.
“Looking to the future, the IFA sector remains in good health and we will continue to seek further opportunities to support the IFA community through creating a more holistic approach to our long-term relationships.
“More widely, assets on platform continue to grow but importantly, the Model Portfolio Service proposition continues to be a strategic growth driver within the wealth management sector, all of which help to support our long term growth ambitions.
“Paradigm continues to deliver stable and robust results given the wider UK economy and political changes seen in the period.
“Macro and geopolitical uncertainty remains; however, I am confident that Tatton’s strong foundations will support our continued consistent growth.
“While our net inflows in this period have been exceptional, we expect them to return to more normal levels of c.£200m per month as we move into the second half of the year.
“The board is confident in the future prospects of the Group, and we remain on track to meet the Board’s expectations for the full year.”