Tatton signs mergers and acquisitions with strong results

Tatton Asset Management said it will continue to develop a pipeline of M&A activity, based on a strong set of half-year results.

Tatton chief executive Paul Hogarth said Money Marketing the company has one or two discussions that are more advanced than others.

“This is an appropriate merger and acquisition proposal that we are carrying out,” he said. “We need to kiss a few frogs before we reach the people we would like to get involved with and the businesses we would like to buy.”

“We have a few that are very close. We will continue to work on this.

In September, Tatton purchased the Verbatim fund ranges from Fintel, as part of a distribution partnership. The deal added £ 650million to Tatton’s assets under management (AUM).

In its interim results for the six-month period ended September 30, 2021, the company said AUM increased by £ 1.8bn or 20% to £ 10.8bn (March 2021: 9bn pounds sterling).

Current assets under management as of 12 November 2021 are approximately £ 11.2 billion.

Organic net inflows for the period amounted to £ 652 million, up from £ 321 million in September 2020, an increase of 7.3% in assets under management.

Group revenue increased 26.4% to £ 13.8million (September 2020: £ 10.9million).

Meanwhile, operating profit rose 37.9% to £ 6.9million (September 2020: £ 5million)

Also during the period, Tatton entered into new distribution partnerships with Threesixty and Sesame Bankhall.

Hogarth said Money Marketing the company is engaged with Fairstone, Sense and 2-plan, but has not yet converted them to partners.

Tatton aims to increase its assets under management by £ 6 billion between 2021 and 2024, to reach £ 15 billion.

“We are on track to move towards this,” Hogarth said. “In six months, we have reached 30% of our target, so we are well and truly ahead.

“We will continue to respect this roadmap to growth. “

Tatton’s IFA companies grew 12.7% to 703 (September 2020: 624).

The number of accounts increased 19.1% to 81,600 (September 2020: 68,500).

Hogarth said: “IFA remains at the heart of our business, and our range of services, proposals and commitments allow us to maintain existing client relationships while improving our ability to attract new businesses.

“As a result, as we look to the future, we are confident that we will continue to move forward and take advantage of the opportunities ahead. “

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