Wealth manager Evelyn Partners, which was created from the merger of long-established firms Tilney and Smith & Williamson, is opening a new office.

Evelyn Partners is opening an office in Brighton to support an increasing number of clients in Sussex and to expand its presence in the South East.

With £55.8 billion ($67 billion) of client assets under management, Evelyn Partners said it will be the only top ten UK wealth manager to have an office in Brighton. The move will help pave the way for further expansion of the wealth management and professional services group in the South East, the firm added in a statement.

The new offices at Mocatta House, Trafalgar Place, in the heart of Brighton will provide working space for its professionals as well as a place to meet clients, the firm said.

The initial team located in the new Brighton office will be 12-strong but there is space for further growth.

Evelyn Partners has been expanding its teams of financial planners and investment managers during 2022 to support strong growth in demand for expert financial advice, the firm said. Its clients include individuals, families, entrepreneurs, family-owned businesses and charities and it frequently works alongside other professionals including lawyers and accountants.

Welcoming the move, David Cummins, managing partner at Evelyn Partners said: “Brighton is a fantastic city and is known for being home to many young entrepreneurs and professionals, but it has been underserved by national wealth management companies.”

“This new office will give us an opportunity to fulfil our mission of ‘placing the power of good advice into more hands’ by growing our presence in the biggest metropolitan area along this part of the South Coast,” he added.

The wealth manager, which ranks as the second largest UK wealth manager measured by EBITDA, has a network of offices across 26 towns and cities in the UK, as well as the Republic of Ireland and the Channel Islands.