Evelyn Partners Group has agreed to sell its employee benefits consultancy arm, Evelyn Partners Financial Services (EPFS), to Howden for an undisclosed amount.

The transaction is subject to regulatory approval and is expected to complete in the first quarter of 2026.

The sale is part of Evelyn Partners’ strategy to refocus solely on wealth management and follows the sales of its professional services and fund solutions businesses, which both completed earlier this year.

Howden is a global insurance intermediary group, with the acquisition of EPFS aiming to strengthen its corporate health and employee benefits offering in the UK.

The firm acquired Barnett Waddingham earlier this year, creating a global benefits and pensions advisory firm with approximately 4,000 employees and combined revenues of over £500m.

EPFS supports a client list with a focus on mid-market, scale-up, and fast-growth firms, providing a range of consultancy services to employers and trustees.

EPFS’s team of 38 staff, located in London, Bristol, Glasgow and Guildford, and led by Evelyn Partners head of employee benefits, Gareth Sawyer, will transfer to Howden in Q1 2026.

“The sale of our employee benefits consultancy further streamlines Evelyn Partners’ range of activities as part of our strategic decision to focus solely on wealth management,” said Evelyn Partners chief executive officer, Paul Geddes.

“This transaction follows on from the successful sales of our professional services and fund solutions businesses, both of which completed earlier this year.

“Howden will be a great long-term owner of this business, providing new opportunities for our employee benefits team and continuity of the services they provide to clients. I would like to thank the team for the contribution they have made to our business over many years and wish them well for the future as part of Howden.”

Howden Employee Benefits managing director, Cheryl Brennan, added: “EPFS bring a highly experienced team with an excellent reputation and a culture that mirrors our own.

“This acquisition reinforces Howden’s investment in our market-leading, full-service employee benefits proposition, strengthening our ability to deliver fresh thinking and trusted advice for corporates seeking a global employee benefits broker with a client-first approach.

“We’re delighted to welcome the EPFS team and to build on our strong relationship with the wider Evelyn Partners group as we continue to grow our scale and impact in the corporate health and benefits market.”

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