Press release also available in Dutch, French.
The acquisition of Lombard International adds £45bn in Assets Under Administration (AUA), confirming Utmost’s leading market position in the international wealth management sector
2024 Trading Update
- Utmost Wealth Solutions (UWS) achieved strong inflows of £3.9bn in 2024, reflecting an improving quarterly trend in the year and leading to an 8% increase on 2023. UWS’ AUA was £58.5bn at YE 2024, up 7% from YE 2023 (£54.6bn) driven by strong equity market performance.
- In December 2024, Utmost Group plc completed its acquisition of Lombard International, adding £45bn in Assets Under Administration. On a proforma basis at YE 2024, Utmost Wealth Solutions had £103.5bn in AUA, an increase of 6% from the prior year comparator.
- On a proforma basis, UWS delivered £6.8bn of inflows in 2024, a 6% increase from prior year (2023: £6.4bn), reflecting an improving macroeconomic environment which resulted in strong inflows, particularly in H2 2024.
Utmost Wealth Solutions Flows
| FY 2024 £bn |
Opening AUA |
Inflows |
Outflows |
Net Flows |
Market Movement |
Closing AUA |
| Utmost |
54.6 |
3.9 |
(4.3) |
(0.4) |
4.3 |
58.5 |
| Lombard |
42.9 |
2.9 |
(3.2) |
(0.3) |
2.5 |
45.0 |
| Proforma Utmost |
97.5 |
6.8 |
(7.5) |
(0.7) |
6.8 |
103.5 |
| FY 2023 £bn |
Opening AUA |
Inflows |
Outflows |
Net Flows |
Market Movement |
Closing AUA |
| Utmost |
51.9 |
3.6 |
(4.2) |
(0.6) |
3.3 |
54.6 |
| Lombard |
40.3 |
2.8 |
(3.1) |
(0.3) |
3.0 |
42.9 |
| Proforma Utmost |
92.2 |
6.4 |
(7.3) |
(0.9) |
6.3 |
97.5 |
Paul Thompson, Utmost Group Chief Executive Officer, commented:
“2024 was a transformative year for Utmost Group, with our wealth solutions business surpassing over £100bn in Assets Under Administration and recording £6.8bn of inflows. This was achieved through our acquisition of Lombard International, solid performance in Utmost Wealth Solutions and strong market growth.
“After a relatively tough first half, the second half of the year brought greater client focus on wealth planning and investment particularly in the UK, following the changes introduced during the Autumn Budget, which contributed to increased interest in our products and strong inflows. This performance is testament to the strength and breadth of our products which offer transparent, compliant wealth management solutions and our team of dedicated specialists who are committed to providing outstanding customer outcomes and supporting our clients in safeguarding their wealth.
“As we move into 2025, I am confident that we will build on the excellent momentum experienced in the second half of the year.”
The Group will announce its Full Year 2024 Results in late April 2025.
For further information, please contact:
Utmost Group plc
Utmost Group Press
Tel: +44 (0)203 861 4343 / Email: press@utmostgroup.com
Temple Bar Advisory
Alex Child-Villiers
Tel: +44 (0)20 7183 1190 / Email: utmost@templebaradvisory.com
About Utmost Group plc
Utmost Group plc is a leading provider of insurance and savings solutions. Its principal businesses are Utmost International and Utmost Life and Pensions, which together are responsible for £64.7bn of primarily unit-linked policyholder assets for over 475,000 policyholders. Utmost Group plc is subject to group supervision by the PRA.