Brewin Dolphin saw its total discretionary funds under management decline 2 per cent in the third quarter to £25.6bn.
Its net inflows of £200m was offset by negative investment performance.
David Nicol, Chief Executive said, “The Group’s overall Q3 performance has been good, although weak global financial markets at the end of the quarter contributed to a decline in Funds under Management and impacted revenue progression.”
Brewin Dolphin has set a number of targets for 2016. These include, revenue growth, operating efficiency, capital sufficiency and dividend growth.
In a broker’s note released just after the results, Numis said: “We are confident management will be able to achieve most of these targets, but are mindful of the potential impact such an aggressive restructuring can have on future growth.”
