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Income Rises At UK's Brewin Dolphin

Tom Burroughes

30 July 2012

Brewin Dolphin, the UK wealth management house, said income in the third quarter to 30 June rose 4.4 per cent year-on-year to £66.8 million (around $104.9 million), it said today.

Total funds under management stood at £25 billion at the end of June, up from £24 billion at the end of September last year, a 4.2 per cent increase, the firm said in a statement. During that period, the FTSE 100 Index of UK blue-chip stocks rose by 8.6 per cent.

Brewin Dolphin, like some of its peers in the run-up to the UK’s Retail Distribution Review reform programme, has been moving to a transparent fee-based charging basis. Approximately half the outflow of funds relates to attrition arising from this change, it said.