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26th August 2021
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Strong growth despite the impact of COVID-19

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The Ascot Lloyd Group (“Ascot Lloyd”, “the Group”), one of the UK’s largest and fastest growing independently owned IFA firms, is pleased to publish its annual results for the year ended 31 December 2020.

Despite the impact of the COVID-19 pandemic on 2020 equity markets and the subsequent effect of client caution on new business, the Group demonstrated strong growth.

Group revenue increased by 24% to £63m (2019: £51) and Group EBITDA increased by over 20% to £14.3m (2019: £11.9m). AUM also rose from £6.8bn to £9.4bn with Avellemy, the Group’s Discretionary Fund Manager, responsible for £1.8bn of these assets at the end of the year.

Nigel Stockton, Group CEO, said: “I am pleased to report a positive year for Ascot Lloyd despite the impact of the pandemic. These results are testament to the resilience and quality of our business, our people, and the national platform we have built. All our staff quickly embraced remote working and reoriented the business to ensure our clients benefitted from continued excellent customer contact and service during a period when they needed this more than ever. The business added 12 acquisitions in 2020 as we continued to execute against our strategy and rapidly grow our business.

“In 2021 we expect Ascot Lloyd to achieve strong further growth against our 2020 published numbers. This year we have already completed three transactions and are working on a number of further significant acquisitions. Indeed, just last month we added Central Investment Services (Scotland) Ltd to our list of recent acquisitions. This excellent Aberdeen business with eight advisers makes us one of the largest IFAs in Aberdeen and increases our footprint in Scotland.”

“Post period end, we also announced that funds managed by the Credit Group of Ares Management Corporation made a significant further investment in the business, which means we remain extremely well capitalised with access to funding that enables us to continue to look to acquire high-quality IFA businesses. Our majority shareholders, funds managed by Oaktree Capital Management L.P., also continue to be extremely supportive as we grow and we look to the future with confidence.”

In 2020 the business undertook a significant reorganisation of its corporate structure. This reorganisation changes the shape of the UK results, meaning that the accounts for Ascot Lloyd UK no longer reflect the overall Group position.

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Important Information

Investment involves risk.

This communication/presentation is for information purposes only. Nothing in this communication constitutes financial, professional or investment advice or a personal recommendation. This communication should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments in any jurisdiction. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor is it intended to be a complete statement or summary of the securities, markets or developments referred to in the document. Any opinions expressed in this document are subject to change without notice and may differ or be contrary to opinions expressed by other business areas or companies within the same group as Ascot Lloyd as a result of using different assumptions and criteria.

This communication is issued by Capital Professional Limited, trading as Ascot Lloyd. Ground Floor Reading Bridge House, George Street, Reading, England, RG1 8LS. Capital Professional Limited is registered in England and Wales (number 07584487) and is authorised and regulated by the Financial Conduct Authority (FRN: 578614).