Evelyn Partners

Last updated
Evelyn Partners
Company typeLimited Company
Industry Financial services, Wealth Management, Professional Services
Founded1836;188 years ago (1836)
Headquarters
London
,
United Kingdom
Area served
Key people
AUM Increase2.svg £61.8 billion (2024) [1]
Owners Permira, Warburg Pincus
Number of employees
3,900 (2023)
Website evelyn.com

Evelyn Partners is a financial services and professional services company based in the United Kingdom. It is formerly known as Tilney Smith & Williamson, [2] [3] which was the result of a 2020 merger [4] between Tilney and Smith & Williamson. The group also operates the online investment service Bestinvest. [5]

Contents

With £61 billion in assets under management, [6] it is one of the UK's largest wealth managers. [7] It is also the fifth-largest UK accountancy firm by fee income. [8]

History

Tilney was founded in 1836 in Liverpool as a company for dealing in stocks and shares. It remained an independent business for 150 years, until it was acquired by Charterhouse Group (then owned by the Royal Bank of Scotland). [9] In 2005, it was bought out by management in a deal backed by private equity investor Bridgepoint Capital, and in 2007 it was bought by Deutsche Bank. [10] [11] In 2014 it was merged with Bestinvest with the backing of investment group Permira. [12] [13]

Smith & Williamson was founded in 1881 in Glasgow, by David Johnstone Smith and Andrew Williamson. [14] Over the years, the firm grew through a series of mergers and acquisitions, including the acquisitions of Belfast-based investment management firm Cunningham Coates in 2001 [15] and accountancy firm Solomon Hare in 2005. [16] [ better source needed ]

In 2020 Tilney merged with Smith & Williamson to create the Tilney Smith & Williamson group [17] [18] in a transaction backed by existing investor Permira and private equity firm Warburg Pincus. [19] [ better source needed ]

In 2022, the company rebranded to Evelyn Partners, retaining Bestinvest as a separate brand ("Bestinvest by Evelyn Partners"). [20]

Operations

The company provides wealth, accountancy and business advisory services to individuals and businesses, including financial planning, investment management, personal and business tax, risk advisory, and fund administration. [21] [22] [23]

It operates offices in 26 cities in the UK, as well as in the Republic of Ireland, and the Channel Islands. Its headquarters is in Gresham Street, in the City of London. [24] [25] [ better source needed ]

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References

  1. ↑ "Evelyn Partners trading update for the three months ended 31 March 2024 (£ billions)". www.evelyn.com. 14 May 2024.
  2. ↑ Hinchliffe, Ruby (2022-03-01). "Tilney Smith & Williamson to rebrand as Evelyn Partners". FT Adviser.
  3. ↑ "Tilney Smith & Williamson announces record financial results and excellent progress with the integration in the first full year since completion of its merger". permira.com. 2022-03-01.
  4. ↑ Baker, Hannah (2020-09-01). "Smith & Williamson and Tilney complete merger to become UK's third-largest wealth management firm". Business Live.
  5. ↑ Andrieux, Jean-Baptiste (2022-03-01). "Tilney Smith & Williamson to rebrand as Evelyn Partners". Money Marketing.
  6. ↑ Gulliver-Needham, Elliot (2022-11-07). "Evelyn Partners sees strong Q3 inflows despite decreasing AUM". Investment Week. Retrieved 2022-12-08.
  7. ↑ McGachey, Kristen (2022-08-01). "Evelyn Partners overtakes rival Brewin Dolphin despite £6bn AUM..." Portfolio Adviser. Retrieved 2022-12-08.
  8. ↑ "Top 50+50 Accountancy Firms 2022". Accountancy Age. Retrieved 2022-12-08.
  9. ↑ "How one private equity firm's giving Tilney another chance". CityAM. 2014-02-27. Retrieved 2023-01-10.
  10. ↑ "Bridgepoint Buys Tilney". www.wealthbriefing.com. Retrieved 2024-03-25.
  11. ↑ "Deutsche Bank to buy Tilney Group". Reuters. August 9, 2007.
  12. ↑ "Permira agrees to buy Tilney, creating 9 billion pound UK wealth manager". Reuters. 2014-02-27. Retrieved 2023-04-17.
  13. ↑ "Permira acquires Bestinvest". Private Equity Wire. 7 November 2013.
  14. ↑ Catchpole, Lewis (2022-02-08). "Tilney Smith & Williamson". Accountancy Today. Retrieved 2023-01-10.
  15. ↑ "Belfast's Cunningham Coates rebrands as Smith & Williamson". The Irish News. 2020-08-27. Retrieved 2024-03-25.
  16. ↑ AccountingWEB (2005-06-03). "Smith & Williamson and Solomon Hare join forces". AccountingWEB. Retrieved 2024-03-25.
  17. ↑ "Tilney and Smith & Williamson complete merger". www.permira.com. Retrieved 2023-01-10.
  18. ↑ Thorpe, David (19 September 2019). "Tilney buys Smith & Williamson in £625m deal". FT Adviser.
  19. ↑ Mendonça, Elisângela. "Warburg Pincus invests over £250m to secure Tilney-Smith & Williamson merger". www.penews.com. Retrieved 2023-04-17.
  20. ↑ Reichman, Carmen (14 June 2022). "Tilney Smith & Williamson becomes Evelyn Partners". FT Adviser.
  21. ↑ "Services". Evelyn Partners. Retrieved 2022-12-13.
  22. ↑ "Evelyn Partners Company Profile: Acquisition & Investors | PitchBook". pitchbook.com. Retrieved 2022-12-13.
  23. ↑ Walker, Peter A. (2022-09-21). "Evelyn Partners eyes Scottish expansion with deal for new Glasgow office". businessInsider. Retrieved 2022-12-13.
  24. ↑ Lawther, Robbie (2022-07-27). "Fifth advice firm joins Evelyn via succession programme". International Adviser. Retrieved 2022-12-13.
  25. ↑ "First quarter trading update for the three months ended 31 March 2022". www.permira.com. Retrieved 2022-12-13.


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