Wealth management and professional services group Tilney Smith & Williamson will change its name to Evelyn Partners in summer 2022.
As part of the move, Bestinvest will be retained as a separate brand and will be named Bestinvest by Evelyn Partners.
The rebrand will also include the international arms of the business.
The Evelyn Partners website says that the company is “now ready to operate under a single brand to offer our clients the best of everything we do”.
The firm will offer wealth management services, professional services, online investing and fund solutions.
Evelyn Partners is named after Evelyn Gardens, the London address from which one of the company’s founders pioneered the expansion of the business in 1893.
The company rebrand was announced during its full year results for the year ended 31 December 2021.
Assets under management (AuM) increased 12.7% to £57.7bn ($77.4bn, €69.2bn). Adjusted Ebitda increased 63.3% to £188.4m.
Net new business inflows rose to £2.5bn (2020: £0.7 billion), while group operating income grew by 83.4% to £560.8m.
In the results, the company said that it will continue “to explore opportunities to enhance growth through acquisitions”.
United as one firm
Chris Woodhouse, group chief executive of Tilney Smith & Williamson, said: “2021 was a landmark year for the group, in which we successfully combined Tilney and Smith & Williamson, while at the same time achieving our best year ever for both organic growth and underlying profitability.
“Delivering excellent client experience is core to our success and during the course of the year we continued to make strategic investments into areas which will enhance and enrich client outcomes. In addition to our focus on hiring new talent, we also made significant progress with our digital transformation agenda.
“This has included the creation of a leading-edge and scalable financial services platform on to which we have begun successfully migrating clients. We aim to roll-out our App and digital portal to more of our clients during 2022. The relaunch of our Bestinvest platform in Q2 2022 will bring a host of new features, combining innovative digital tools with free access to investment coaches who are qualified financial planners.
“Notwithstanding current market volatility and the dreadful events unfolding in Ukraine, we have very strong foundations in place for future growth. We have both operational and financial strength and a large and growing pool of talent. We now have an unrivalled service proposition that spans DIY investing, financial planning, investment management and tax advice to help clients manage their personal wealth, alongside an extensive range of professional services for businesses.
“We are therefore uniquely well positioned to support clients with both their personal wealth management needs and business interests. As we become Evelyn Partners this summer, we look forward to a new and exciting chapter, focused on the future as truly one firm.”