Barnett Waddingham (BW) has reported a 12.8 per cent rise in revenue for the 2024/25 financial year, reaching £181m in what it described as a year of “standout commercial success” and post-acquisition integration with the Howden Group.

The figure marks an increase from £160m the previous year and continued the firm’s trajectory of strong organic growth, following its acquisition by the global insurance and employee benefits intermediary in April 2025.

Revenue across BW’s retirement-focused businesses - Actuarial Consulting, Investment Consulting and Pension Administration - rose by 12 per cent year-on-year.

In particular, Actuarial Consulting achieved a significant milestone by generating over £50m in income for the first time, while Pension Administration exceeded £57m in income.

The Investment Consulting arm also recorded an “outstanding” year, with assets on its streamlined investment platform surpassing £3bn, delivering £2m in annual fee savings for clients.

Senior partner, Andrew Vaughan, described the year as a pivotal moment for the firm, combining record financial results with a smooth transition into the global insurance and employee benefits intermediary.

He said the results “speak for themselves”, highlighting the firm’s “robust growth, excellent client feedback and a business well positioned for the future as part of the Howden Group”.

The successful integration, he added, has created “exciting new opportunities” while preserving the independence and client-first culture that define the BW brand.

Meanwhile, the firm’s risk transfer team completed 30 transactions during the year, accounting for more than 10 per cent of all deals in the UK market.

BW’s public sector team also secured new mandates with the Hertfordshire and Wiltshire Pension Funds, and was reappointed by the Kent Pension Fund, extending a 14-year relationship.

Finance partner, Robert Hawkes, echoed that it had been “a transformational year that positions us perfectly for sustained growth”.

He noted that BW’s “strong performance reflects the benefits of strategic investment in our people, services and technology”, adding that the firm’s continued focus on innovation and client service ensures it remains well placed to “deliver exceptional value and continue our journey of empowering people to secure better futures”.

Across BW’s wider business areas - including Employer Consulting, Insurance and Longevity Consulting, Board Management Services, SIPP and SSAS - income rose by 15 per cent, with every division contributing to the overall growth.

Insurance and Longevity Consulting delivered a particularly strong performance, with income up 42 per cent, driven by demand for bulk annuities, model validation, and outsourcing of actuarial functions.

Elsewhere, the firm advanced its three-phase diversity, equity and inclusion (DEI) strategy - launched in 2024 - with over 80 per cent of colleagues engaging in workshops and surveys, and formalised its commitment to gender equality by joining the Women in Finance Charter.

The report also revealed that over the year, BW donated £135,000 to charitable initiatives, delivered 1,520 volunteering hours - up 48 per cent year-on-year - and supported more than 400 young people through partnerships with over 40 organisations, including the Charlie Waller Trust and Crisis.

BW also maintained its commitment to sustainability, achieving carbon neutrality for operational emissions, offsetting 1,050 tonnes of CO₂e, planting more than 7,000 trees, and achieving 100 per cent waste diversion from landfill across all offices.

Vaughan said the firm’s success reflected its long-term commitment to clients and colleagues alike.

“Our integration with Howden has strengthened our position while preserving the independence and culture our clients value,” he concluded.

“We’ve continued to invest in our people, our services and our technology, ensuring we’re ready to help clients and communities secure better futures.”

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