The firm's plans to pursue a stock listing were announced after merger talks with rival Rathbone Brothers collapsed in August.

Smith & Williamson has logged strong results for the first half of this year, with operating income up more than 10 per cent year-on-year while adjusted operating profits rose over 15 per cent. 

Continued momentum at the wealth manager generated group operating income of £130.1 million ($173.9 million), up 10.7 per cent from the same period last year, it said. 

Adjusted operating profits were up 15.8 per cent at £20.5 million, compared with £17.7 million figure logged in the first half of 2016. 

Smith & Williamson said its funds under management and advice grew 6.4 per cent during the six months up to 31 October, 2017, or 12 per cent year-on-year to reach £20 billion. Funds under administration swelled 16 per cent, or 35 per cent year-on-year, to hit £10.7 billion. 

Adjusted basic earnings per share rose 23.1 per cent from last year, weighing in at 29.8 pence.

Smith & Williamson has said it will make a senior hire in 2018, and that its team and business acquisition programme will continue with a focus on private client investment management and financial planning.

Earlier this year, the company confirmed it was exploring a potential stock listing after its merger talks with rival Rathbone Brothers collapsed. 

“Today we are fully focussed on creating value for our clients, shareholders and employees by successfully investing to deliver our growth strategy,” David Cobb, co-chief executive, said. “In this light, we continue to prepare for a potential listing, and will be taking all the necessary steps to position the group accordingly. This preparation, including the major steps we are taking to upgrade our technology platform, will take time, and we anticipate that we will not be in a position to list before the second half of 2019.”