TEAM plc has reported a significant milestone, with total client assets surpassing £1bn and revenue nearly doubling to £10.3m. The company’s latest financial results highlight strong growth across its divisions, setting the stage for further expansion in international markets and advisory services.
The Jersey-headquartered wealth and asset management firm saw a 39% increase in total client assets, reaching £1.16bn as of 30 September 2024. Despite this, adjusted EBITDA loss widened to £1.6m, reflecting ongoing investments in scaling operations. Post year-end, TEAM secured an additional £2.36m through debt and equity raises, strengthening its financial position for future growth.
The business is now structured into three divisions: Investment Management, Advisory, and International. Investment Management, with assets under management (AUM) of £325m, delivered a standout performance, with income surging 39% due to strong inflows into its Model Portfolio Service (MPS). The Advisory division saw a temporary decline in revenue following a restructuring process, but this transition has laid the groundwork for long-term expansion, including the launch of a new advisory business in Guernsey.
The International division was a key driver of growth, benefitting from a full-year contribution from the Globaleye acquisition and nine months from Neba businesses. With all international operations now consolidated under the Neba brand, this division is poised to be TEAM’s primary engine of expansion. The company is aggressively growing its adviser network in targeted regions and aims to make 12 senior hires this year.
Looking ahead, TEAM plans new fund launches and an accelerated migration of client assets to MPS. The launch of the Group’s UCIT product in spring will further enhance accessibility for international clients. Advisory services have started the financial year strongly, with new personnel, clients, and the establishment of a Guernsey office.
Executive Chairman Mark Clubb emphasised the company’s focus on high-growth financial advisory markets, particularly in the Middle East, Southeast Asia, and Africa. TEAM’s business model is built on recruiting top-tier advisers and providing them with robust support, a strong product range, and a competitive commission structure. With an incentivised management team and a scalable distribution model, TEAM is well-positioned to continue its rapid growth without the cost burden of traditional fund distribution.
TEAM plc (LON:TEAM) is building a new wealth, asset management and complementary financial services group. With a focus on the UK, Crown Dependencies and International Finance Centres, the strategy is to build local businesses of scale around TEAM’s core skill of providing investment management services.
