Key figures: 

•  £10.6m EBITDA, up 17.1% 
• £42.2m revenue, up 17.4%
• £8.9bn AUA, up 1.8%

Wealthtime, the adviser-focused platform business, delivered further growth in 2023, reporting £10.6m earnings before tax and interest, and revenue growth which was up 17.4% on 2022. 

In its financial results for the year to 31 December 2023, Wealthtime reported its earnings before interest, tax, depreciation and amortisation (EBITDA) were up 17.1% from 2022 to £10.6m and revenue grew to £42.2m.

AUA increased by 1.8% to £8,887m in 2023, driven in part, by an improvement in equity market returns during the year. 

In the previous year Wealthtime recognised a provision of £11.6m relating to legacy assets bought on the platform prior to 2017 that affected a small number of clients. In 2023, this provision was reduced to £10.5m as a result of additional analysis carried out during the year. The company has PI insurance in place and expects to make a claim should the liability crystalise. 

Patrick Mill, CEO at Wealthtime, said: “We delivered robust growth in 2023, despite the wider market challenges that the industry faced. This year we continue to focus on, and invest in, transforming our service to achieve the best outcomes for advisers and their clients.” 

– ENDS – 

For further information please visit www.wealthtime.com or contact: 

Sam Prince-Mernick, sam.prince-mernick@mrm-london.com / 07471 351 584 

Notes to Editor: 

About Wealthtime

The Group in numbers 

Private equity firm AnaCap Financial Partners owns Wealthtime, Wealthtime Select and Copia Capital. Patrick Mill is CEO of all three businesses in the Group. 

Combined, the platforms have over £11.6bn of pension and investment assets under administration (AUA) and over 72,000 clients (as of 30th May 2024). AUA is split £9.1bn and £2.5bn, Wealthtime and Wealthtime Select respectively. 

Copia Capital, the discretionary fund management (DFM) part of the Group is a pure B2B DFM which works exclusively with advisers to supply a range of managed portfolio services. These include its MPS Custom service, offering customised portfolios to advisers which are constructed to meet the adviser’s retail clients’ needs; its ‘ready to go’ MPS portfolio products; and the added-value MPS Plus range.