TEAM plc (LON:TEAM), the wealth, asset management and complementary financial services group, has announced its interim results for the six months to 31 March 2024.
Commenting on the results Mark Clubb, Executive Chairman of TEAM, said: “We have significant growth opportunities ahead. Britain has seen a material exodus of the wealthy following Brexit and tax reforms. According to a recent report* Britain will lose 9,500 millionaires this year, more than double the previous year and nearly seven times the number in 2022. Critically for TEAM, they are re-locating to cities where we are strong and can provide the financial advice and offshore services they require. This is therefore an important tail-wind as we expand our international platform servicing the financial needs of expatriates not just from Britain but from all nationalities. With AUM/A now close to 1 billion we are in a good position and will look to build on this during the reminder of the financial year and beyond.” *Henley & Partners’ “Private Wealth Migration Report 2024”