Discretionary Management  

Discretionary funds give Brewin Dolphin a boost

Discretionary funds give Brewin Dolphin a boost

Assets under management (AUM) at Brewin Dolphin increased 14 per cent in the year to 31 December 2017.

Total funds under management stood at £41.5bn on 31 December 2017.

The growth was led by a 17 per cent increase in the discretionary funds under management arm, which accounted for assets of £35bn at the end of December.

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The Managed Portfolio Service saw assets increase to £2.3bn, from the previous £1.6bn.

David Nicol, chief executive of Brewin Dolphin, said: "The business has continued to perform well in the first quarter, maintaining the positive momentum we saw at the end of our 2017 financial year.

"Growth in total funds was achieved from continued strong inflows into our core services and positive investment returns for our clients.

"This has led to good overall income growth with the particularly strong growth in fee income more than offsetting the decline in commission income.

"The business remains focused on delivery of our strategic initiatives and we believe that our positive momentum will continue into the second quarter.”

In November 2017, Mr Nicol said the firm intends to expand its advice offering.

david.thorpe@ft.com