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Charles Stanley revenues boosted by low-cost advice arm
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Brewin Dolphin attracts record quarterly inflows of £1bn
Total discretionary funds were up 11% at £45.7bn
Brewin Dolphin posted record total discretionary flows of £1bn in the first three months of the year, as total funds under management reached £52.6bn.
The wealth manager’s interim report for the half year ended on 31 March 2021 recorded total discretionary net flows of £600m with gross inflows of £1.6bn.
Total discretionary funds were up 11% to £45.7bn from £41.2bn at the full year 2020 supported by positive net flows and discretionary investment performance of 9.5%.
Total discretionary commission income was 14.8% higher at £38.7m, while financial planning income grew 16.5% to £19.1m, driven by higher market levels and continued demand for its advice-focused services.
Charles Stanley and Brooks Macdonald grow assets despite Covid pressure
Charles Stanley ‘cautiously optimistic’ worst of pandemic is over while Brooks Macdonald ‘on track’ to meet expectations
Charles Stanley and Brooks Macdonald both reported an increase in assets under management during the first three months of the year, despite the pressures of Covid-19 and the associated lockdown.
Charles Stanley said it was “cautiously optimistic” that the worst of the pandemic is over after reporting a 2% increase in funds under management (FUM) during the first three months of the year.
The wealth manager’s funds under management and administration (FUMA) increased from £25.1bn at the end of December 2020 to £25.6bn at the end of March.
Home / News / Rathbones unveils new chairman as it closes out volatile year with £55bn in assets
Rathbones unveils new chairman as it closes out volatile year with £55bn in assets
Clive Bannister will be the investment group’s first new chairman in a decade
Rathbones has closed out 2020 with £55bn in assets thanks to a bumper performance from its funds business as it unveils the former CEO of Phoenix will take over as its chairman.
The FTSE 250 investment group reversed the tide of outflows in Q4, netting £500m of inflows compared with £200m of redemptions in the previous quarter.
This took its total funds under management and administration up to £54.7bn for 2020, up 8.6% from £50.4bn in 2019. By comparison the FTSE 100 fell 14.3% over the year, while the MSCI Pimfa Private Investor Balanced Index was largely unchanged.
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