Discretionary Management  

Brewin Dolphin records net discretionary inflows of £500m

Brewin Dolphin records net discretionary inflows of £500m

Discretionary wealth manager Brewin Dolphin recorded net inflows of £500m in the first quarter of their financial year helping boost total funds under management to £36.4bn.

Figures for the three months to December 31 2016, the first quarter of their financial year, showed total fund flows into the discretionary business reached £700m.

Outflows of £200m in the period reduced the overall net inflows, although this is down from the £300m of outflows recorded in the first quarter of the 2016 financial year, due to "lower outflows from direct discretionary clients". 

Article continues after advert

Meanwhile the group's core income, comprising of discretionary investment management, financial planning and execution only increased 12 per cent year on year to £67.9m. The interim management statement also noted the acquisition of Duncan Lawrie Asset Management, announced in December, is expected to complete in the second half of the current financial year.

David Nicol, chief executive of Brewin Dolphin, stated: “Momentum behind our growth strategy has continued to build during the first quarter and it's been a pleasing start to the financial year. Continued net organic growth in funds, driven by increasing inflows into our core discretionary service and a reduction in discretionary outflows, underlines the strength of the business during uncertain market conditions.

"The solid performance is underpinned by a commitment to deliver on our clear strategy. The progress we are making combined with our financial strength gives us confidence in our long term prospects.”