Howden is buying Evelyn Partners Financial Services Limited (EPFS), the employee benefits consultancy arm of Evelyn Partners for an undisclosed sum.
The transaction is subject to regulatory approval and is expected to complete in the first quarter of 2026.
The business supports a client list with a strong focus on mid-market, scale-up and fast growth firms, and provides a wide range of consultancy services to employers and trustees.
It also offers advice on group risk and healthcare benefits, employee engagement and communications services, as well as wellbeing and ancillary benefit packages, the firms said.
Its team of 38 professionals, located in London, Bristol, Glasgow and Guildford, and led by head of employee benefits Gareth Sawyer will transfer across to Howden in Q1 2026.
Sawyer will report to Cheryl Brennan, managing director of Howden Employee Benefits (pictured), following completion of the deal.
The acquisition follows that of Barnett Waddingham in March, which extended Howden’s global employee benefits and pensions advisory expertise, with approximately 4,000 professionals across 40 countries, delivering total combined revenues exceeding £500m.
The group also subsequently acquired Benefits Advisory Services (BAS) in May.
Cheryl Brennan, managing director of UK employee benefits at Howden, said: “EPFS brings a highly experienced team with an excellent reputation and a culture that mirrors our own.”
“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,” she concluded.
Gareth Sawyer, head of employee benefits at Evelyn Partners, 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.“
Sawyer added that clients can expect business as usual while retaining a close relationship and continued collaboration with Evelyn Partners.
Paul Geddes, CEO of Evelyn Partners, added: “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.
“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.”