Investments  

Charles Stanley tops advised assets under management

Charles Stanley has topped the table for assets managed on a discretionary basis for adviser clients, according to the latest Money Management discretionary fund manager (DFM) survey.

The research, which covered 32 DFMs that offer outsourced services to financial advisers, found that more than £24bn is managed on this basis, with the average amount managed per client at £249,477.

As shown in the table below, Charles Stanley & Co has the greatest number of assets under management for externally advised clients at £5.5bn. The firm is followed by Brooks Macdonald at £3.4bn and Rathbones at £3.3bn.

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However, the split of business across the top 10 DFMs varied significantly. For Brooks Macdonald, adviser business by AUM makes up 84 per cent of its £4.1bn total. Yet for Rathbones, adviser business makes up 18 per cent of its total AUM of £18.4bn.

Other providers reported greater total assets under management, including Brewin Dolphin and Gam, but could not be included in the advised rankings as they did not break down the split between advised and direct clients.

Top 10 DFMs by assets under management for externally advised clients
Provider£m
Charles Stanley & Co5,510
Brooks Macdonald Asset Management3,420
Rathbone Investment Management3,300
Seven Investment Management2,988
Standard Life Wealth1,826
Psigma1,218
Smith & Williamson819
Parmenion700
Close Brothers Asset Management602
Vestra Wealth591
All data as at 01/07/13 except Standard Life, which is as at 31/03/13. Source and copyright: Money Management.