Investment and financial planning group Tilney Bestinvest is pleased to announce that, on a full-year pro forma basis the combined Group generated profits of £17.7 million* for the 12-months to 31 December 2014.
Together the Tilney Bestinvest companies had combined revenues of £67.6 million, 79% higher than the £37.7 million generated by the standalone Bestinvest business during the 2013 calendar year. Assets under Management and Administration (AUM) closed at £9 billion on 31 December 2014, some 76% high than the £5.1 billion Bestinvest had at 31 December 2013.
Peter Hall, Chief Executive of Tilney Bestinvest said: "The integration of the two businesses has gone exceptionally well and it is pleasing to note that almost half of our staff have invested in the business. Our greater scale means we are now investing heavily in new systems and people which will further enhance the services we provide to clients. Importantly investment performance has remained strong. We have made some very high quality new hires in recent months across different teams but with a particular, on-going focus on recruiting additional financial planners across the UK. The combined Tilney Bestinvest business, with some £9 billion of client assets under management and a nationwide presence, offers a comprehensive range of services to suit clients at each stage of their lives. Whether our clients want a managed or advised investment solution, prefer to make their own investment decisions, or require bespoke financial planning, we are in an excellent position to support them."
*Earnings Before, Interest, Taxation, Depreciation & Amortisation is regarded by the Board as the most appropriate measure of underlying performance and equates to the profit figure referred to above. Tilney was combined with the Bestinvest group on 1 August 2014.
Click below to download the full release.