Utmost Wealth Solutions (UWS) has reached a major milestone, surpassing £100bn ($126bn) in assets under administration (AUA) following the successful acquisition of Lombard International.
The company reported robust inflows in 2024, driven by strong market performance and growing client interest in wealth planning solutions.
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UWS recorded £3.9bn in gross inflows in 2024, an 8% increase from the previous year, contributing to a 7% rise in AUA to £58.5bn.
The acquisition of Lombard International in December 2024 added a further £45bn in AUA, boosting Utmost’s total AUA to £103.5bn on a proforma basis—up 6% from the previous year.
Chief executive officer Paul Thompson stated: “2024 was a transformative year for Utmost Group, with our wealth solutions business surpassing over £100bn in Assets Under Administration and recording £6.8bn of inflows. This was achieved through our acquisition of Lombard International, solid performance in Utmost Wealth Solutions and strong market growth.
“After a relatively tough first half, the second half of the year brought greater client focus on wealth planning and investment particularly in the UK, following the changes introduced during the Autumn Budget, which contributed to increased interest in our products and strong inflows. This performance is testament to the strength and breadth of our products which offer transparent, compliant wealth management solutions and our team of dedicated specialists who are committed to providing outstanding customer outcomes and supporting our clients in safeguarding their wealth.
“As we move into 2025, I am confident that we will build on the excellent momentum experienced in the second half of the year.”
On a proforma basis, UWS delivered £6.8bn in inflows in 2024, up 6% from £6.4bn in 2023. While outflows across UWS and Lombard totalled £7.5bn, net flows remained steady at -£0.7bn, bolstered by strong market movements contributing £6.8bn to AUA growth.
Looking ahead, Thompson expressed confidence in sustaining momentum into 2025, as Utmost continues to expand its presence in international wealth management.
