Team, the Jersey based, wealth, asset management and complementary financial services group, has announced its final results for the year to 30 September 2023.
Commenting on the results, Mark Clubb (pictured), Executive Chairman said: “This has been another active period for Team. We are picking up the pace and the shape of the business is emerging with Jersey as the central fund management engine operating out of a highly regulated jurisdiction with a strong international reputation for fiduciary responsibility. Alongside this, our Jersey financial planning advisory hub is combining well and is positioned to deliver dependable organic growth going forward.
“The recent acquisitions of Globaleye and Neba have been combined into the International Division creating a new platform, branded as Neba Private Clients, aimed at supporting expatriates of all nationalities, who have very specific wealth management and advice needs which we specialise in solving. The current financial year has started well with AUM/A now up to £1.0 billion.”
A summary of the financial results shows:
- Assets under management/advice for the year were up 51% from £551 million to £833 million.
- Group revenues increased by 151% from £2.1 million to £5.3 million
- £1.9 million cash in bank as at 30 September 2023
- Acquired Globaleye in June 2023 and Neba Wealth in December 2023
- Increased headcount from 33 to 87
- Completed successful £1.1 million fundraising in March 2024
- Assets under management/advice, as at 28 February 2024, £1.0 billion
