6th June 2017
Tilney, the award winning financial planning and investment group, today announces its full year financial results for the year ended 31 December 2016.
The key highlights include:
138% increase in assets under management (AUM) to £22.4 billion (2015: £9.4 billion)
Completion of the acquisitions of Ingenious Asset Management (April 2016) and the Towry Group (July 2016)
209% increase in run-rate revenues to £213.1million (2015 reported revenues: £69.0 million)2
268% increase in run-rate EBITDA to £64.7 million (2015 reported EBITDA: £17.6 million)2
19% increase in run rate EBITDA as a percentage of revenues to 30.4% (2015 reported: 25.5%)
Increase in number of advisers from 146 to 328 at year end
Increase in gross new money per adviser from £9.8 million to £10.0 million
Initiated a £15 million investment programme in new technology and systems to enhance client experience
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(1)) The Board regards adjusted EBITDA (Earnings Before Interest, Tax, Depreciation & Amortisation) as the most appropriate measure of the underlying financial performance of the business. Adjusted EBITDA excludes items that the Board sees as one-off and non-recurring (such as acquisition and integration related costs), as well as non-cash accounting charges (depreciation and amortisation).