It revealed the figure in its interim results for the six months to 30 June, published today.

It said the £2.6bn increase in AUM was “attributable to positive market movements and investment performance.”

It said during the half year it generated £3.5bn of gross inflows and “strong growth in operating income” led to a 18.3% increase in adjusted EBITDA to £103.9m.

Group operating income increased 10.3% to £360.8m compared to £327.2m in the first half of 2023.

There was a 5.2% growth in financial services operating income driven primarily by an increase in average AUM.

Paul Geddes, group chief executive, said: In our financial services business, positive market movements in the first half and resilient new business generation have delivered higher AUM and operating income.”

Evelyn said there was a 23.4% growth in professional services operating income reflecting the contribution of five acquisitions made last year.

Mr Geddes said: “We will build on this over the coming months, with the recently announced acquisition of the Manchester, Leeds and Newcastle offices of Haines Watts which has brought us 150 new colleagues.”

Looking ahead he said that with inflation having settled back and the first interest rate cut made in the UK, “there are good grounds to be positive on the medium-term outlook despite the turbulence seen in global equity markets in recent days.”

He added that with potential changes to tax and pensions on the horizon “we also expect to see strong demand for financial advice in the second half of the year.”

Evelyn Partners is a wealth management and professional services group, created following the merger of Tilney and Smith & Williamson in 2020. With £59.1bn of assets under management (as at 31 December 2023) it is one the largest UK wealth managers and also the seventh largest UK accountancy firm ranked by fee income (source: Accountancy Age 50+50 rankings, 2023).

It has a network of offices across 29 towns and cities in the UK, as well as the Republic of Ireland and the Channel Islands. Through its operating companies, the Group offers financial and professional services to individuals, family trusts, professional intermediaries, charities and businesses.

It has been on the expansion trail in 2024 acquiring three offices and 150 staff from Northern accountancy firm Haines Watts earlier this month.

It appointed Charlotte Platts as regional Financial Planning head for Northern England, Scotland and Northern Ireland in July after adding new Financial Planner Emma Rivers to its Surrey office.

In June it added Chartered Financial Planner George Uglow to its Exeter office and in May Financial Planner Danielle Pearce joined its Bournemouth office.

It appointed Chartered Financial Planner Mickey Armstrong as a Financial Planner in its Knutsford, Cheshire office in March.

In February it recruited Certified Financial Planner Reinoud Noorduijn for its Guildford office and hired Declan Kirby as a Chartered Financial Planner for its Birmingham office.

In January it appointed Matt Dickens as Financial Planning director for the South of England.