The asset manager said there had been record net inflows of £2.3bn during the year, representing 18.1% of opening AUM.

The business posted strong market and investment performance of £1.5bn and added 106 IFA firm relationships in the year to Tatton Investment Management.

Total net inflows for the year were £2.303bn, up 28.4% from £1.794bn in 2023. Net inflows in the second half were £1.393bn, an increase of 53.1% on the first half net inflows of £0.91bn.

The company said it exceeded its three year ‘roadmap to growth’ strategy of £15bn AUM by 31 March by 17.4%. It said its strong growth was supported by the number of IFA firms increasing 12.2% to 975, up from 2023’s increase of 869.

Paradigm, Tatton’s IFA support services business, saw a 9.7% drop in the number of mortgage completions over the period. Completions were £13.1bn in comparison to £14.5bn in the previous year.

However, mortgage member firms increased by 9.4% to 1,916 (31 March 2023: 1,751) but consulting member firms dropped from 431 to 424.

Paul Hogarth, founder and CEO of Tatton Asset Management, said: “As a management team, we are excited about the future market opportunity and the continued growth and adoption of MPS as a core investment proposition by the IFA community.

“We built on the momentum generated in the first half of the year, with net inflows averaging over £230m per month in the second half of the year, so that, most importantly, flows stayed consistently strong throughout the whole year.”

The group’s audited final results are scheduled to be released on 18 June.