Evelyn Partners Explained

Evelyn Partners
Type:Limited Company
Industry:Financial services, Wealth Management, Professional Services
Predecessors:-->
Founders:-->
Successors:-->
Hq Location City:London
Hq Location Country:United Kingdom
Owners:Permira, Warburg Pincus
Num Employees:3,900
Num Employees Year:2023
Aum: £61.8 billion [1]
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]

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]

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]

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]

External links

Notes and References

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

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