Tilney Bestinvest reveals first full year results

Added 27th May 2016

Tilney Bestinvest has reported profit of £17.6m for the 12 months to 31 December 2015, its first full year since the merger in August 2014.

Tilney Bestinvest reveals first full year results

The company saw its AUM rise 4.5% over the year to £9.4bn versus £9bn at 31 December 2014. Revenue was £69m compared to pro forma full year revenues of £67.6m in 2014.

The “resilient performance” was underpinned by £630m of net new assets as well as “strong relative investment performance” across it managed portfolios compared to its peers, the firm said.

Tilney Bestinvest expanded its adviser headcount by 20% during the year through both recruitment of new financial planners across the UK and a transaction with Webb Holton in the Midlands.

Overall staff costs increased 17%, reflecting the expansion. Tilney Bestinvest expects these investments to “accelerate organic growth in 2016 and beyond.”

Chief executive Peter Hall said: “In 2015 we made excellent progress towards achieving our strategic vision of becoming the UK’s leading provider of financial planning and investment services. Our investment performance has continued to be very good, organic growth has been strong and we have been investing for the future which will enable us to further enhance the service we provide to clients and accelerate future growth.” 

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Alex Sebastian

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Alex joined Portfolio Adviser in April 2014 and has been a financial journalist since 2008. He has previously held editorial positions at the Financial Times Group and Euromoney Institutional Investor. Alex is NCTJ qualified and has a degree in economics from the University of Sussex.

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