The rise in assets was partially driven by an increase in the number of IFA firms using the group which increased by 12% to 975.

The total number of client accounts increased 17.9% to 126,150 (2023: 107,010).

Assets under management have continued to rise, according to the firm’s audited final results published today.

The investment manager reported organic net inflows of £2.2bn (2023: £1.79bn), an increase of 18.1%. The average run rate was £192m per month.

The firm had set itself a three-year ‘Roadmap to Growth’ strategy which had a target of £15bn in assets under management by 31 March.

As a result the investment manager has set itself a new growth target of £30bn in assets under management by the end of its 2029 financial year.

Paul Hogarth, CEO of Tatton Asset Management, said the firm will continue to focus on organic growth.

He said: “Looking ahead, we are very optimistic about our growth trajectory and the opportunities that lie ahead. Our goal is to exceed our £30 billion AUM/I target, enhance our market position, and continue to support and champion the IFA community.

“Our focus will remain on maintaining organic growth, improving operational efficiency, and fulfilling our commitments to our stakeholders. We are confident that our strategic approach, coupled with our dedication to excellence, will lead to continued success and solidify our position as a leading asset management firm in the UK.”

He added that Tatton had seen around £0.9bn of net inflows in the first quarter of its new financial year, the same level of net inflows it achieved in the first half of the previous year.