Marvin OnumonuHowden has agreed to buy Evelyn Partners Financial Services Limited, the employee benefits consultancy arm of Evelyn Partners, for an undisclosed sum.
The deal, which is subject to regulatory approval, is set to complete in the first quarter of 2026.
Evelyn Partners Financial Services (EPFS) supports a range of clients, especially mid-market, scale-up and fast growth firms, with consultancy services covering group risk, healthcare benefits, employee engagement, communications, wellbeing and additional benefit packages.
Its team of 38, led by Gareth Sawyer, head of employee benefits at Evelyn Partners, will move over to Howden in early 2026.
Sawyer will report to Cheryl Brennan, managing director at Howden Employee Benefits.
Brennan said: “EPFS brings 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.”
Sawyer said: “Howden is an impressive business and will be an excellent long-term home for the team and the clients we serve through access to Howden’s wider proposition offering and global presence.
“The deal provides clarity on our future and will bring exciting opportunities as we become part of a global organisation that has grown to become one of the UK’s largest employee benefits specialists.
“Our clients can expect business as usual, with the team remaining focused on delivering high quality advice to help them attract and retain talent in a competitive market, while retaining a close relationship and continued collaboration with Evelyn Partners.”
Paul Geddes, CEO at Evelyn Partners, said: “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.
“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.”
Geddes added: “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.”
