3rd: Brewin sees demand for face-to-face advice rising

Brewin Dolphin Wealth Management.

Despite slipping down the league table one place, Brewin Dolphin Wealth Management increased gross sales by £800m on last year. Thus it maintained its progress toward the stated aim of becoming the UK’s leading discretionary wealth manager.

Head of corporate affairs Charlotte Black said: “We were pleased at the half year on 31 March with our performance in expanding our discretionary presence and also with the progress made against our stated margin targets.”

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She sees the current situation as being beneficial for the company’s ambitions, and said: “The demand for high-quality, trusted, face-to-face advice is rising. The demographics and the recent pension and savings reforms, both provide an opportunity for the wealth management industry to develop new business streams and to support existing clients with broader services.”

Initiatives to improve business efficiency by standardising operating processes continued last year, while restructuring has meant branch offices reducing in number from 42 in 2011 to 35 at the half year and 29 now.

Ms Black explained: “This isn’t about cost-cutting per se, but having bigger, more multi-skilled regional presence, which we believe is better able to give our clients and our agents a more complete wealth management service, with all the necessary skills in every office.”