Reports
Brewin Dolphin Boasts Broadly-Solid Q3 Results; Duncan Lawrie Integration Making Headway
The UK wealth manager has published its financial results for the third financial quarter of 2017.
Brewin
Dolphin logged broadly-healthy growth for the third quarter
of this year, propelled by a jump in total income and assets
acquired from Duncan
Lawrie Asset Management.
The UK-based wealth manager said total funds – including £700
million ($911.2 million) of acquired funds - swelled 3.7
per cent during the quarter to £39.2 billion, up from £37.8
billion reported in the first half of 2016. Discretionary funds
were up 4.4 per cent.
The firm boasted record total income of £77.3 million, as this
figure rose 8.4 per cent from £71.3 million in the third quarter
of last year. Core income – defined as income derived from
discretionary investment management - growth was 11 per cent;
total fee income growth weighed in at 16 per cent; and total
commission income slipped from £18.8 million in the third quarter
of last year to £16.7 million.
"The second half of the year has started well with record income
and continued organic fund growth in our core discretionary
business underlining the strength of the group,” David Nicol,
chief executive of Brewin Dolphin, said. “The integration of DLAM
is making good progress and we are delighted to have welcomed our
new colleagues. We continue to make steady progress in delivering
against our long-term growth strategy and our confidence in the
future is underpinned by our robust financial position."
