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Tatton DFM assets hit £6bn but IFA consultancy fees fall

Tatton Asset Management now has more than £6 billion in assets under management, but the last financial year saw revenue drop at Paradigm Consulting

Tatton DFM assets hit £6bn but IFA consultancy fees fall

Tatton Asset Management saw discretionary fund manager (DFM) assets hit £6.1 billion at the end of March, but the company's financial year was marred by a slowdown in revenue from its adviser consultancy business.

Assets managed by DFM Tatton Investment Management rose 24.5% from £4.9 billion at the end of March 2018 to £6.1 billion at the end of March this year, according to a trading statement published this morning. 

Net inflows over the financial year ending 31 March 2019 were £1.1 billion, averaging £92.5 million a month. 

Despite the strong performance from its core DFM business, Tatton Asset Management said Paradigm Consulting, which supports advice firms, 'has seen downward pressure on revenue' despite increasing member firms from 368 to 390. It was also in part affected by reduced flows onto its platform service

Paradigm Mortgage Services also increased it member firms from 1,219 in March 2018 to 1,393 in March this year. 

Tatton Asset Management chief executive Paul Hogarth (pictured) said the DFM had achieved 'sustained growth' over the financial year as the offering was able to 'resonate with IFAs'. 

'To the extent we are pleased with the Mortgage Services performance, we are disappointed with the lack of growth of Paradigm Consulting though it remains an important component of the group's strategic make-up,' he added. 

Full financial results for Tatton's year wll be published on 3 June. 

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