Utmost Wealth Solutions (UWS) today (20 February) reported assets under administration surpassing £100bn and recording strong gross inflows, in its 2024 trading update.
The inflows of £3.9bn in 2024, “reflecting an improving quarterly trend in the year”, was a 8% increase on 2023.
UWS’ assets under administration (AUA) was £58.5bn at year end 2024, up 7% from year end 2023 (£54.6bn) driven by strong equity market performance.
In December 2024, Utmost Group completed its acquisition of Lombard International, adding £45bn in AUA.
On a proforma basis at year end 2024, Utmost Wealth Solutions had £103.5bn in AUA, an increase of 6% from the prior year comparator.
On a proforma basis, UWS delivered £6.8bn of inflows in 2024, also on a proforma basis and giving a 6% increase (2023: £6.4bn), reflecting an improving macroeconomic environment which resulted in strong inflows, particularly in H2 2024.
Paul Thompson, Utmost Group chief executive officer, said: “2024 was a transformative year for Utmost Group, with our wealth solutions business surpassing over £100bn in Assets Under Administration and recording £6.8bn of inflows.
This was achieved through our acquisition of Lombard International, solid performance in Utmost Wealth Solutions and strong market growth.
“After a relatively tough first half, the second half of the year brought greater client focus on
wealth planning and investment particularly in the UK, following the changes introduced
during the Autumn Budget, which contributed to increased interest in our products and strong inflows.
“This performance is testament to the strength and breadth of our products which offer transparent, compliant wealth management solutions and our team of dedicated specialists who are committed to providing outstanding customer outcomes and supporting our clients in safeguarding their wealth.
“As we move into 2025, I am confident that we will build on the excellent momentum
experienced in the second half of the year.”
The group further said it will announce its full year 2024 results in late April 2025.
