Brewin Dolphin hails Q3 funds increase

Wealth manager Brewin Dolphin has seen its funds under management increase in its third quarter despite troubled economic and market conditions.

'We are pleased with the overall business performance,' says chief executive David Nicol. Picture: Mike Wilkinson.

The firm, which is headed by Glasgow-born chief executive David Nicol, said total funds saw a 4 per cent quarter-on-quarter jump to £44.1 billion as of 30 June, while discretionary funds were up by 4.3 per cent to £39.1bn.

Discretionary net flows, including transfers, amounted to £300 million, in line with the prior quarter – while total income was £87.3 million, up by 3.7 per cent.

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The business said its acquisitions of Investec Capital and Investments (Ireland) and the assets and staff of Epoch Wealth Management LLP are on track to complete as planned.

Chief executive David Nicol said: “We are pleased with the overall business performance, particularly the resilience of our discretionary net inflows of [£300 million] in the quarter in challenging economic and market conditions.

“In this context, we are confident in our business model, strategy and long-term growth prospects, which are underpinned by our focused investment in the UK and Ireland, combined with continued operational discipline.”