British wealth manager Tilney has reported earnings before interest, tax, depreciation & amortisation (EBITDA) of £86.6m for the year ended 31 December 2017, a surge of 101% compared to £43m a year ago.

The firm’s annual revenues were £226.5m, an increase of 68% from £135.2m last year.

Assets under management (AUM) totalled £24.1bn at the end of December 2017, a jump of 60% from the previous year, with 75% of AuM held in discretionary mandates and funds.

Tilney CEO Chris Woodhouse said: “2017 was another record year for Tilney with our average AUM up 60% year-on-year and ending 2017 at over £24bn. Importantly, we saw a 62% increase in gross new business, demonstrating our ability to grow organically as well as by acquisitions.

“Rising assets, 75% of which are in discretionary mandates or funds, and the combination of earning both Financial Planning and Investment Management fees enabled a 68% increase in Revenues to a record £226.5m of which over 86% are recurring in nature. With our past acquisitions of Towry and Ingenious Asset Management now fully integrated, our scalable business model delivered a doubling of EBITDA to £86.6m whilst growing our EBITDA margin up to 43%.”

At the same time, the wealth manager also unveiled plans to drive growth through acquisitions.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Enter your work email
First Name
Last Name
Company Name
Job title *
Phone number *
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“We will continue to look to accelerate our growth further through both hires of talented Financial Planners and Investment Managers who see the attractions of our model as well as exploring potential acquisition opportunities where the fit is right,” Woodhouse stated.