Wealth manager Evelyn Partners expands Scottish presence with addition of Glasgow-based PPM Wealth's team

A wealth management and professional services specialist that says it has grown to be one the largest firms of its kind in Scotland has deepened its roots with the acquisition of a Glasgow-based peer.

Evelyn Partners, which was created from the merger of Tilney and Smith & Williamson in 2020, has announced the completion of the deal that will see the eight-strong team from Glasgow-based boutique wealth manager PPM Wealth join its office in the city. It also has offices north of the Border in Aberdeen and Edinburgh.

PPM Wealth is described as a well-established, client focused firm that supports its clients with discretionary portfolio management and financial planning services. The team being moved across includes Alan Steven, chairman and co-founder of PPM Wealth, who will assume a client relationship role; investment professionals Atif Latif and Ian Black, financial planner Doug Hall, and four support staff.

Evelyn Partners says it has deep roots in Scotland with Smith & Williamson having been founded in Glasgow in 1881, while it notes that it has £54.4 billion of assets under management as of March this year

From left: Paul Frame, regional managing partner for Scotland and Northern Ireland at Evelyn Partners, and Alan Stevens, co-founder and chairman of PPM Wealth. Picture: contributed.

Paul Frame, regional managing partner for Scotland and Northern Ireland at Evelyn Partners, commented: “We are really delighted to welcome Alan and his team.

"The fit between PPM Wealth and Evelyn Partners is an excellent one, with both firms providing our clients with a joined-up combination of professional investment management and financial planning advice and to help them achieve their financial goals. The team joins at exciting time for the business both across the wider UK and here in Glasgow, where we will soon be moving into landmark new premises at 177 Bothwell Street to accommodate our ambitious growth plans.”

Alan Stevens, co-founder and chairman of PPM Wealth, said: “We are excited to be joining Evelyn Partners, which we see as an excellent long-term home for our team and clients. It is an impressive and growing business, which is strongly committed to Glasgow, with a major presence in the city. Importantly, Evelyn Partners has similar values to those we have championed over the last four decades at PPM Wealth, with a strong focus on building long-term partnerships.”