Tatton on course for £30bn asset target and lines up new chairman
Tatton Asset Management plc, the on-platform discretionary fund management and IFA support services group, says it now has £21billion of assets under management and has made a “strong start” towards reaching the £30 billion target.
The strong growth revealed in an unaudited trading update was supported by the number of IFA firms increasing by 13.8% to 1,110 (2024: 975).
The trading update said Paradigm, the Group’s IFA support services business, delivered a resilient performance in the year.
Paradigm Mortgages participated in mortgage completions totalling £13.7 billion (2024: £13.2 billion), a 3.6% increase year on year, with H2 completions of £7.1 billion, ahead of H1 by 6.6%.
Consulting member firms were 425 at the end of the Year (2024: 424).
Roger Cornick, who has served as Non-Executive Chairman since the stock market float in July 2017, will retire at the end of July 2025. The former chairman of Aberdeen Asset Management first joined the Board in January 2004. Prior to joining Aberdeen, he was with Perpetual PLC for over 20 years.
Chris Poil
Cornick will be succeeded by Chris Poil, a senior Non-Executive Director, as his successor. Poil previously served as Head of UK Equities at ING Baring Asset Management. Prior to joining ING he was a director of Mercury Asset Management.
Cornick said: “It has been a privilege to serve as Chairman of Tatton Asset Management and to work alongside such a talented and dedicated management team. I am proud of what we have achieved together since the 2017 IPO, and I am confident that the Group is well-positioned to sustain the forward momentum that we have been able to achieve over this period – I will be retiring from an organisation with a very bright future.”
Paul Hogarth, Founder and CEO of Tatton Asset Management plc, said: “Roger has been an excellent Chairman bringing a huge amount of experience to the role and, on a personal note, has been a great mentor and friend to me over the past eight years. While we are sad to see him step down, his legacy will endure in the strong foundation he has helped to build.
“I am incredibly proud of the exceptional performance Tatton Asset Management has achieved in FY25, a year that marks the strongest organic growth in our history, with record net inflows of £3.7 billion, representing 22.3% of opening AUM. This outstanding result, alongside total AUM/I1 reaching £21.8 billion, reflects the unwavering trust our clients and IFA partners place in us and is exemplified by the addition of 135 new IFA firm relationships, bringing our total to 1,110.
Paul Hogarth
“This year saw the commencement of our ambitious five-year ‘Roadmap for Growth’ strategy, targeting £30 billion in AUM/I by 2029. We have made an incredible start and most pleasing is the consistency of net inflows throughout the year, which averaged £307 million per month. I remain confident in our long-term vision and achieving the target in the coming years.
“These results are a testament to the dedication of our team and the strength of our partnerships with independent financial advisers. The Board is confident that our financial performance for FY25 will align with market expectations, and while we are cognisant of the current economic volatility and the impact that this is having on global markets, we remain optimistic and look forward to building on our success as we continue to empower advisers and deliver value to all our stakeholders.”
