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.