Arbuthnot Lifts Profit Outlook As Wealth Assets Climb

Editorial Staff

23 October 2026

UK-listed , said yesterday that it expects full-year 2026 pre-tax profit to beat prior expectations. Funds under management and administration (FuMA) rose 21 per cent year-on-year to £3.1 billion.

The group cited loan book growth, a stable rate environment and continued momentum in its wealth management business.

In a trading update for the three months to 30 September 2026, the group reported FuMA of £3.1 billion ($4.2 billion), up 21 per cent from £2.5 billion a year earlier. Customer loans and leased assets rose 12 per cent to £2.5 billion, and customer deposits grew 10 per cent to £4.9 billion.

"Taking into account the loan book growth in the first nine months of the year and the continued positive momentum in the wealth management business, together with base rate stability across 2026 to date, the board now expects that 2026 full-year profit before tax will be ahead of prior expectations," it said.

FuMA has risen 15 per cent since the start of the year, from new money and investment performance. Gross inflows of £458 million equate to annualised growth of 23 per cent, the group said in a trading update.

The wealth management business turned to a net profit in the quarter. The group’s wealth planning arm, which earns fees and commission from advising clients, generated two-thirds of this year’s inflows.

Specialist lending subsidiaries grew 26 per cent over 12 months. Arbuthnot Commercial Asset Based Lending (ACABL) and Renaissance Asset Finance both grew by more than 40 per cent. ACABL’s loan book reached £305.6 million, up 39 per cent year-to-date, after a small decline in 2025. New clients accounted for 82 per cent of its growth, and private equity-sponsored deals increased.

Other UK wealth managers have reported slower asset growth. Brooks Macdonald’s FuMA stood at £21.8 billion at 30 September, against £21.7 billion at 30 June, with annualised net flow growth of 1.1 per cent in its first quarter. Rathbones reported FuMA up 10.7 per cent year-on-year to £120.7 billion at 30 June 2026. In specialist lending, Close Brothers reported a flat £9.5 billion loan book for its year to 31 July, with underlying growth of 2 per cent.