What's Happening?
Evelyn Partners has announced the sale of its employee benefits consultancy arm, Evelyn Partners Financial Services (EPFS), to Howden, a global insurance intermediary group. This transaction, pending regulatory approval, is expected to finalize in the first
quarter of 2026. The sale is part of Evelyn Partners' strategic shift to concentrate solely on wealth management, following the earlier sales of its Professional Services and Fund Solutions businesses. EPFS, which provides services such as group risk and healthcare benefits, employee engagement, and wellbeing packages, will see its team of 38 professionals transition to Howden. Gareth Sawyer, head of employee benefits at EPFS, will report to Cheryl Brennan, managing director of Howden Employee Benefits, post-acquisition.
Why It's Important?
This acquisition signifies a strategic realignment for both Evelyn Partners and Howden. For Evelyn Partners, the divestment allows a sharper focus on wealth management, potentially enhancing their service offerings and market position in that sector. For Howden, acquiring EPFS strengthens its employee benefits services, expanding its market presence and service capabilities. This move could lead to increased competition in the employee benefits market, potentially benefiting corporate clients through enhanced service offerings. The transition of EPFS's experienced team to Howden is expected to maintain service continuity and client satisfaction.
What's Next?
Following the completion of the acquisition, Howden is likely to integrate EPFS's operations into its existing framework, potentially leading to new service offerings and expanded client engagement strategies. Evelyn Partners will continue to streamline its operations to focus on wealth management, which may involve further strategic decisions or partnerships. Regulatory approval processes will be closely monitored, as they will determine the finalization timeline of the acquisition. Stakeholders, including clients and employees, will be keenly observing the transition for any changes in service delivery or corporate culture.
