Tatton Asset Management, the investment management and IFA support services group, has announced its preliminary results for the year ended 31 March 2019.
Highlights include:
Discretionary assets under management increased 24.5% to £6.1bn
AUM net inflows increased to £1.1bn averaging over £90m per month
Group revenue increased 12.9% to £17.5m
Adjusted operating profit up 12.3% to £7.3m
Adjusted operating profit margin 41.7%
Reported profit before tax increased to £6.1m, after charging exceptional items of £0.5m and share option costs of £0.9m
Proposed final dividend of 5.6p, giving a full year dividend of 8.4p
Tatton has also been appointed by Tenet Group, one of the UK’s largest financial adviser groups to provide a Managed Portfolio Service for Tenet’s appointed representatives and directly authorised firms.
This follows Tenet’s decision to remove its centrally supported advisory model portfolios in early 2020.
Mark Scanlon, chief executive at Tenet, commented:
“We remain committed to supporting our advisers’ independence; advisers may want to run their own advisory model portfolios and other fund solutions, but we believe that the efficiencies of the Tatton managed portfolio service provide great support for advisers and deliver a professional end-customer experience.”
Paul Hogarth, chief executive officer of Tatton Asset Management said:
“Tenet conducted a rigorous and demanding selection process and we are delighted to have been selected. IFA firms of all sizes are recognising the benefits of outsourcing their investment management because of the difficulties in researching and maintaining investment portfolios themselves and we are at the forefront of this process.
“Our managed portfolio service offers very competitive charges without any reduction in investment standards or service and are also highly scalable. Our investment process of balancing low cost, risk managed long term returns is a highly compelling combination for advisers seeking an investment solution for their clients that supports their business.”
