Reports
Profits, AuM Rose At Brewin Dolphin In Final Three Months Of 2016, Full Year
The UK-listed firm reported results for 2016 showing a rise in income and assets under management, as it prepares to complete a recent acquisition.
Total income at Brewin Dolphin, the
investment and wealth management firm, stood at £71.3 million
($90.0 million) in the final three months of 2016, up by 6.1 per
cent from the same quarter a year ago, the UK-listed firm said
today.
Total funds under management grew to £36.4 billion from £33.2
billion a year before, up 9.6 per cent, it said in a statement.
That gain lagged beind a 13.6 per cent rise in the FTSE WMA
Private Investor Series Balanced Portfolio benchmark.
In the latest quarter, there was an inflow into discretionary
funds of £700 million, the firm said.
Last December, Brewin Dolphin agreed to buy the asset management
arm of UK private bank Duncan Lawrie, which is being sold off by
its parent (see
here). Today, the firm said the acquisition of Duncan Lawrie
Asset Management is expected to complete in the second half of
the current financial year. It did not provide
further details.
