Investment manager and IFA support firm Tatton Asset Management said pre-tax profits climbed more than a quarter, 28.9%, to £21.596m, in the year to the end of March.

It had already revealed record net inflows of £3.7bn for the year, in a trading update published in April.

Today in its annual results it reported that assets under management during the year increased by 24% to £21.83bn.

It said its IFA firms climbed by 13.8% to 1,110, up from 975 in 2024, while the number of client accounts increased 22% to 153,915, from 126,150 in 2024.

The firm paid out a final dividend of 9.5p, giving a total dividend for the year of 19p, up 18.8% from last year’s 16p.

The positive news helped its shares leap more than 6% to 638p.

Paul Hogarth, chief executive, said: “We continued to make strong progress against our long-term ambitions, achieving sustained organic growth and advancing our strategic priorities.”

He said it had been “a challenging year, marked by an ever-changing and often unpredictable market environment.”

He said the firm has made a strong start to the new financial year with net new inflows of £0.6bn in the first 10 weeks, equivalent to £265m a month.

Mr Hogarth said the business remains committed to achieving its goal of reaching the milestone of £30billion AUM by FY29. “Our confidence in achieving this ambition is founded on the strength of our business and our conviction that we will successfully navigate challenges, while making the most of the opportunities that lie ahead.”

He also paid tribute to retiring chairman, Roger Cornick. Mr Hogarth said: “Roger has been a friend and mentor to me since the IPO and I would like to take this opportunity to once again thank him for his outstanding commitment, wise counsel, and exceptional stewardship over the years.”

Mr Cornick has served as non-executive chairman since the company’s IPO in July 2017. He will retire at the AGM at the end of July. He will be replaced by Chris Poil, senior non-executive director of Tatton, subject to shareholder approval.