Andrew Paterson

The private client firm has more than doubled its turnover in the last decade, with revenue up by 10 per cent last year alone, according to financial information published by the firm for the first time since its establishment in 1849.

The balance sheet shows net assets attributable to members stood at £3,192,342 as of 31 March 2025. This represents an increase of £521,952 from the 2024 figure of £2,670,390.

Revenue and profit figures are not included in the accounts. However, the firm said its “strong performance” in 2024/25 met the targets set out in its growth strategy, with further growth forecast for the coming years.

Details of the firm’s financial performance are being published for the first time as part of Murray Beith Murray’s transition to a limited liability partnership (LLP).

The move to an LLP brings the business in line with other similarly well-established firms, as well as to allow for improved governance and continuity planning.

The firm, which has eight partners and almost 70 staff, specialises in meeting the legal, financial and administrative needs of individuals and families, including family trusts.

Last year’s financial performance enabled the practice to pay all eligible staff a bonus of five per cent of salary to reward their exceptional dedication and commitment.

Meanwhile, some 10 per cent of revenue was invested in 2024/25 in upgrading IT infrastructure and security, and developing enhanced compliance systems.

Andrew Paterson, chairman of Murray Beith Murray, said: “Becoming a limited liability partnership marks a new era in Murray Beith Murray’s 175-year history.

“It brings us into line with other leading private client firms while preserving the independence and personal service that have defined our work for generations.

“As our latest accounts show, the firm continues to remain in a strong financial position, with no external debt – a situation that reflects the trust our clients continue to place in us, generation after generation.

“As we embark on this new chapter, we will seek to modernise various aspects of our operations, while always continuing to put the interests of our clients first.

“We are committed to continued growth and want to remain a strong, niche, specialist practice for a long time to come.”