Wealth management and professional services group Evelyn Partners has struck a deal to acquire Dart Capital, a City of London boutique wealth manager for an undisclosed amount.

The transaction is subject to regulatory approval and is expected to complete later this year.  



Dart Capital was incorporated in 1987 and has been led by chief executive Richard Whitehead since a management buyout in 2008.

Since then it has grown its assets under management (AUM) from £120m to £739m.

It has 19 staff providing personalised advice and discretionary investment management services to clients, including the partners of leading accountancy and law firms, senior executives, business owners and retirees. 



Chris Woodhouse, group chief executive of Evelyn Partners, said: “Richard and his team have built an impressive business over many years that supports a top-tier client base. The cultural fit between the two businesses is excellent, with both firms focused on understanding the needs of our clients and delivering a highly personalised service.”



Richard Whitehead said: “Both companies champion similar core values, and we are confident in the opportunity of growth and investment that this exciting development presents for our clients and the company. 

“Evelyn Partners’ additional depth and breadth of resource will help us continue to nurture, preserve, and grow our clients’ wealth. We are excited for the future and look forward to supporting our clients in our new home.”

Evelyn Partners was created following the merger of Tilney and Smith & Williamson in 2020. With £55.4bn of assets under management (as at 31 March), it ranks as the second largest UK wealth manager measured by EBITDA and the fifth largest professional services firm ranked by fee income (source: Accountancy Age 50+50 rankings, 2022). 

It has a network of offices across 28 towns and cities in the UK, as well as the Republic of Ireland and the Channel Islands.